Indians with Black money abroad : Disclosure of names will embarrass Congress, Arun Jaitley says.
Finding itself on the back foot on the question of black-money, the finance minister Arun Jaitley on Tuesday tried to hit back at Congress saying the party will be embarrassed if the names of people holding illicit foreign accounts are made public.
Talkin with NDTV’s Barkha Dutt, this is what he said,
“The names will be public shortly … I can assure you there is no embarrassment I will have when all the names are disclosed. There is some embarrassment the Congress party will have because of those names,”
Why is Jaitley so much concerned about the the embarrassment to Congress. If he has the list or if he is soon to receive one, then he better make it public. There’s not need to empathise with Black money holders, irrespective of the political party they belong to. Such an attempt to float rumors or speculations disguised-as-empathy is even bad for a Union Minister who is most capable and empowered to take an action on black money. The comment from Arun Jaitley is not very different from former Home Minister and Congress man Sushil Kumar Shinde, who when his party was in power blamed Hindutva Groups of running terrorist camps in the country. His assertion may be correct, but for a Home Minister all words and no action means encouraging rumors.
Mr. Jaitley also raised the question of India’s double taxation avoidance agreement with Germany. Mr. Jaitley is unnecessarily bringing the Double taxation avoidance agreement into the picture. The DTA agreement is simply an agreement inked by the countries doing commerce with each other.
If we are serious about Black Money
If the new Government can disclose the names to the Court, then it must do that. Mr. Jaitley must not worry too much about the names presented to Court getting leaked to the media. From the last few years the country is being shown fake lists, atleast this time around, the list will be genuine.
This is what Jaitley said, airing his worry,
“No, it (tax avoidance treaty) did not prevent us from disclosing the names. It merely says disclose it to a court and don’t disclose it to the media. And when you disclose it to a court, it automatically gets carried into the media. That’s all we are saying,”
In addition, Mr. Jaitley’s statement that the names of those account holders against whom charges are filed by Indian authorities would be disclosed in the court shortly, is not sufficient. As that will touch only the tip of the black money stashed abroad. The logic says, most of the black money stashed abroad doesn’t belong to politicians, bureaucrats and offers in defence. The most of the black money abroad belongs to the corporates. The corporates who make young men and women work for them for petty salaries. Unless such crony capitalists are brought to book, bringing back black money will remain a token exercise. But there are real reasons why BJP will want not to touch these corporates. That’s why the new Government must stop hypocrisy and do something substantial on Black money. Circulating rumors or misreporting facts will not help it.