Since the agreement made with Switzerland becomes effective only from April 2012, it would give leverage to all whose money was parked in Swiss banks to transfer or withdraw it, the BJP leader said.
The Bharatiya Janata Party leader L.K. Advani on Friday said the government’s intentions were “suspicious” on disclosure of information on black money under the agreement made with Switzerland.
He said since the agreement was to come into effect from next year, it will give leverage to all whose money was parked in Swiss banks to transfer or withdraw it.
“The very intention of the government is suspicious...it had shown masterly inactivity in dealing with the issue of black money,” Mr. Advani told reporters here.
Stating that the agreement made with Switzerland under which India can obtain banking information from that country in specific cases will be made effective from April 2012, he questioned, “Why have we given this kind of leverage to all those who have parked their money in Swiss banks. Why 2012...
Why are they being given this opportunity (to transfer their money to other accounts)?”
“This whole plea of taxation agreement does not inspire confidence...Will it serve any purpose or the UPA Government has given strong indication to the defaulters to transfer their account to some other banks...or withdraw money from their Swiss bank account?” Mr. Advani asked.
The former deputy prime minister said while other nations like the United States, France and Germany were taking proactive steps to bring back black money of its citizens stashed in tax havens, India which has substantial stakes in this objective “is unfortunately, under the UPA government, demonstrating masterly inactivity”.