Considering nationalising black money: Government to Ramdev (Lead)June 3rd, 2011 - 11:59 pm ICT by IANS
New Delhi, June 3 (IANS) After failing to stop Baba Ramdev from going ahead with his mass hunger strike against corruption in India, the government Friday night assured him that it was considering to declare as “national asset” the black money stashed in foreign banks - a key demand the yoga guru has raised.
In a late evening press statement following a failed marathon meeting between senior ministers and Ramdev, the government said a committee was already in place to suggest how to strengthen existing laws relating to black money.
“The committee will examine the measures to strengthen the existing legal and administrative framework to deal with the menace of generation of black money through illegal means,” it said.
Among other things, the panel is examining the demand of “declaring wealth generated illegally as national asset; amend laws to confiscate and recover such assets; and providing for exemplary punishment against its perpetrators,” the statement said.
In a point-by-point response to the demands Ramdev has raised, the statement from Prime Minister Manmohan Singh’s office said the maximum punishment against corrupt would be “substantially increased”.
But it was silent on Ramdev’s demand that those who indulge in graft should be hanged to death.
It said the government “is open to the idea of more special courts to speed up trial of corruption cases”.
On the demand to enact public services delivery legislation, the statement said the government was prepared to introduce the bill in parliament “at the earliest”. “The central government will encourage states to adopt the model bill to improve the quality and timeliness of public service delivery.”
On the contentious issue of land acquisition, the government said it was “committed to wide public consultations on the amendments to the act” related to the issue.
The statement dwelt extensively on the black money issue and said the legal framework was being regulated by the Reserve Bank of India for the opening of bank accounts overseas by Indian residents.
It also said that ill gotten wealth stashed abroad could be recovered through Mutual Legal Assistance Treaty — which India has already signed with 26 countries.
“In the last two years, over Rs.33,000 crore of mispricing has been detected in international trade and over Rs.30,000 crore of tax evasion detected at home.
- Government outlines measures to tackle black money - Aug 10, 2012
- Government mulling to declare black money national asset - Jun 03, 2011
- Panel to suggest ways of seizing black money parked abroad - May 28, 2011
- Talks fail, Ramdev's anti-graft fast on (Intro Roundup) - Jun 04, 2011
- Thousands join Ramdev's fast, Congress calls it 'five-star satyagraha' (Evening Lead) - Jun 04, 2011
- Parties back black money issue inside, outside parliament (Second Lead) - Aug 13, 2012
- BJP slams Congress on black money - Jun 02, 2011
- Ramdev plans fast-unto-death, seeking death penalty for graft - May 04, 2011
- Sri Sri Ravishankar backs Ramdev's campaign - Jun 02, 2011
- Largest depositors in Swiss banks are Indians: CBI chief - Feb 13, 2012
- Ramdev promised to call off fast by Saturday, says Sibal (Lead) - Jun 04, 2011
- $500 billion black money hidden abroad: CBI (Roundup) - Feb 13, 2012
- Ramdev to fast unto death in New Delhi against corruption - May 04, 2011
- Parliament disrupted over black money (Lead) - Aug 13, 2012
- Congress defeat due to corruption: Ramdev - Mar 06, 2012
Tags: administrative framework, black money, corruption cases, corruption in india, evening press, exemplary punishment, foreign banks, hunger strike, land acquisition, manmohan singh, maximum punishment, model bill, money issue, national asset, prime minister manmohan, prime minister manmohan singh, public consultations, public service delivery, special courts, yoga guru