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All money in Swiss bank not black, will get all black money data by 2019: Piyush Goel

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All money in Swiss bank not black, will get all black money data by 2019: Piyush Goel

[vc_row][vc_column][vc_column_text]Attacked and mocked by Opposition and BJP leader Subramanian Swamy over report of 50% rise in money deposited by Indians in Swiss banks in 2017, acting finance minister in Narendra Modi government, Piyush Goyal came up with some dubious claims and promises on Friday, June 29.

He questioned how all the money could be assumed to be illegal and said India will get all data on black money from Switzerland by the end of fiscal 2019.

“We will have all the info and if anybody is found guilty, strict action will be taken,” Goyal told reporters in New Delhi. “Today, nobody has the guts to save money outside the country. And it has been possible only because of the government’s hard work,” the caretaker Finance Minister said.

“Agreement between India and Switzerland has this. From January 1, 2018 till end of accounting year (ends March 31, 2019), all data will be made available. Why assume this is black money or illegal transactions?” Piyush Goyal said, referring to the report.

Around 40 per cent of this money is because of the Liberalised Remittance Scheme (LRS), Goyal said. Under the scheme, an individual can remit up to USD 2,50,000 in a foreign account per year.

India has a treaty with Switzerland under which the Swiss government would provide all data from January 1, 2018 till December 31, 2018. India would get data as the accounting year ends, Goyal said.

“We will have all information. If someone is found guilty, the government will take strong action against them,” the Finance Minister said.

While Switzerland has already begun sharing foreign client details on evidence of wrongdoing provided by India and some other countries, it has agreed to further expand its cooperation on India’s fight against black money with a new pact for automatic information exchange.

India and Switzerland have held several rounds of discussions on the new framework on exchange of financial data, and also for fast-tracking exchange of pending information requests about suspected illegal accounts of Indians in Swiss banks.

About an hour after Piyush Goyal’s remarks, Congress president Rahul Gandhi took to Twitter to take a swipe at the Modi government over what he claimed was the government’s inability to win the fight against black money.[/vc_column_text][vc_raw_html]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[/vc_raw_html][vc_column_text]Data released by Swiss National Bank reveal that after declining for three successive years, money deposited by Indians in Swiss banks rose 50 per cent to CHF (Swiss Franc) 1.02 billion (Rs 7,000 crore) in 2017 over the previous year.

In comparison, the total funds held by all foreign clients of Swiss banks rose about 3 per cent to CHF 1.46 trillion or about Rs 100 lakh crore in 2017, according to data released by the Swiss National Bank (SNB), the central banking authority of the Alpine nation.

Indian money in Swiss banks had fallen by 45 per cent in 2016, marking their biggest ever yearly plunge, to 676 million Swiss francs (Rs. 4,500 crore) – the lowest ever since Switzerland began making the data public in 1987.

In November 2016, the government had withdrawn high-value currency notes from circulation overnight. PM Minister Narendra Modi had said demonetisation would wipe out black money from the system.

The rupee has also been under severe stress. On Thursday, it breached the 69-mark against the US dollar for the first time, ending the day at an all-time low of 68.79.

The government came under severe attack from Opposition and BJP Rajya Sabha MP Subramanian Swamy.

BJP leader Subramanian Swamy hit out at the government for its failure in curbing generation of black money. Writing on his Twitter handle, Swamy said, “Secret Swiss bank accounts deposits from global sources rose by three per cent in last 12 months. Indians’ deposits however grew 50 per cent.”[/vc_column_text][vc_raw_html]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[/vc_raw_html][vc_column_text]The Congress in a tweet said, “One of PM Modi’s long-standing campaign promises of bringing back black money falls flat. While you sit and wait for your promised Rs 15 lakh, more capital has flown the coop.”

Congress leader and former Union minister Manish Tewari also hit out at the Centre.[/vc_column_text][vc_raw_html]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[/vc_raw_html][vc_column_text]Tweeting a caricature on the development, the Aam Aadmi Party said the black money parked in foreign lands will not return in PM Modi’s government.[/vc_column_text][vc_raw_html]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[/vc_raw_html][vc_column_text]General Secretary of the Communist Party of India (Marxist) Sitaram Yechury alleged that prime minister has no time or intention to remember the tall promises he made in 2014.

“From falsifying history to making new promises, Jumlaman has no time or intention to remember tall promises he made in 2014. From depositing 15 lakh in each bank account to making Rupee stronger to doubling farmers’ income, he has only insulted and humiliated us Indians,” he said in a tweet.

In another tweet, Yechury said the data is no surprise since the “Modi government writes off lakhs of crores of unpaid loans of crony corporate and businessmen flee India after looting public money under his watch”.[/vc_column_text][/vc_column][/vc_row]

India News

Rahul Gandhi faces FIR order as Allahabad High Court acts on dual citizenship plea

High Court allows plea in Rahul Gandhi citizenship case, paving the way for further legal process.

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Rahul Gandhi

The Lucknow bench of the Allahabad High Court has allowed a petition seeking legal action in connection with allegations related to Congress leader Rahul Gandhi’s citizenship status, marking a fresh development in the case.

The petition was filed by a political worker, who had approached the court seeking directions for registration of a case over claims that Gandhi may have held foreign citizenship. The High Court, while hearing the matter, passed directions for further proceedings in accordance with law.

The development comes after a special MP/MLA court in Lucknow had earlier declined to order registration of an FIR, reportedly observing that it lacked jurisdiction in matters concerning citizenship.

Background

The case is linked to allegations that Rahul Gandhi may have held British citizenship. Under Indian law, dual citizenship is not permitted. However, these claims remain part of the petitioner’s submissions and have not been established by any court.

During earlier hearings, the High Court had sought records and considered material presented by the parties involved.

What happens next

With the High Court allowing the plea, the matter is expected to proceed as per due legal process. This may involve examination by the appropriate authority and further judicial review at subsequent stages.

The case carries both legal and political significance given Rahul Gandhi’s role as Leader of the Opposition in the Lok Sabha.

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India News

Pawan Khera faces fresh setback as Supreme Court refuses relief in passport row case

Congress leader Pawan Khera faces fresh setback as Supreme Court refuses interim relief and directs him to seek bail from Guwahati High Court.

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Pawan Khera

Congress leader Pawan Khera suffered another legal setback on Friday after the Supreme Court of India declined to extend protection in a case linked to his remarks about Himanta Biswa Sarma’s wife.

A bench of the apex court refused to interfere with an earlier order that had stayed the transit anticipatory bail granted to Khera by the Telangana High Court. This decision leaves the Congress leader open to possible arrest by Assam Police in connection with the case.

During the hearing, Khera’s counsel sought interim protection, but the court declined the request and advised him to approach the appropriate court in Assam for relief. The bench clarified that the Guwahati High Court should decide any bail plea independently and on its merits.

“Am I a terrorist?” remark during hearing

While seeking protection, Khera’s legal team expressed concern over the urgency of the situation. In court, his counsel remarked, “Am I a terrorist?” highlighting the plea for temporary relief until a fresh bail application could be filed.

The Supreme Court also raised concerns over the submission of incorrect documents during the proceedings, adding another layer to the legal complications faced by the Congress leader.

Case linked to remarks on CM’s wife

The case stems from a press conference held earlier this month, where Khera made allegations regarding the citizenship status and financial assets of the Assam Chief Minister’s wife, Riniki Bhuyan Sharma.

He had claimed that she possessed multiple passports and owned undisclosed overseas properties. These allegations were strongly denied by the Chief Minister’s family, who termed them fabricated and misleading.

Legal battle intensifies

Earlier, the Telangana High Court had granted Khera temporary transit anticipatory bail, allowing him time to seek relief from a competent court in Assam. However, the Supreme Court stayed that order following a challenge by Assam authorities, escalating the legal battle.

With the latest ruling, Khera is now expected to move the Guwahati High Court for anticipatory bail as the case continues to unfold.

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India News

Congress suspends 5 Haryana MLAs over cross-voting in Rajya Sabha polls

Congress suspends five Haryana MLAs for cross-voting in Rajya Sabha elections, citing serious indiscipline and anti-party activities.

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The Congress has suspended five of its MLAs in Haryana for cross-voting during the recent Rajya Sabha elections, taking disciplinary action over what it described as “anti-party activities”.

The move came after the state unit reviewed the conduct of certain legislators during the polls, where some were found to have voted against the party’s authorised candidate.

Five MLAs suspended after disciplinary process

According to party sources, the MLAs were issued show-cause notices seeking an explanation for their actions. After reviewing their responses, the Congress disciplinary committee recommended suspension.

The decision was approved by the party leadership, including Congress president Mallikarjun Kharge, and has been implemented with immediate effect.

Party calls it ‘grave indiscipline’

Haryana Congress chief Udai Bhan said the action was necessary to uphold party discipline, stressing that defying the official party line during elections weakens organisational unity.

He said the party takes such violations seriously and will continue to act against any form of indiscipline.

Leadership backs strict action

Senior Congress leader and Leader of Opposition Bhupinder Singh Hooda supported the decision, saying it was taken after due consideration.

He noted that while Rajya Sabha elections are conducted through an open ballot system, allowing legislators some flexibility, the party retains the authority to initiate internal disciplinary action in cases of deviation.

Background

The action follows cross-voting reported during the recent Rajya Sabha elections in Haryana, which led to internal concerns within the party. The development has highlighted organisational challenges and prompted the leadership to take corrective steps to reinforce discipline.

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