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Udupi: Centre Firm on Getting Back Money Stashed Abroad: Oscar

  •   Sat, Apr 10 2010 07:59:31 AM

The Hindu

Udupi, Apr 10: Oscar Fernandes, MP, said on Friday that the Union Government was committed to getting back the black money stashed in Swiss banks by some Indians.

He was speaking at a programme titled “Jago Sansad Jago” organised by the Udupi Consumers' Forum here.

Mr. Fernandes said that Union Government would have to get this money back as per the laws prevailing in Switzerland. Those who spoke about it now should ask themselves as to what they had done to get it back when they were in power. However, since there was a lot of public interest involved in the matter, the Union Government was pursuing it, he said.

To a question, he said that earlier an incentive was being given to those informing the authorities about smuggling activities. The Union Finance Ministry was now thinking of giving an incentive to those who gave information about black money, he said.

To another question, Mr. Fernandes said the movement of overloaded lorries carrying iron ore was responsible for the poor condition of roads. But the quantity of iron ore exports from the New Mangalore Port Trust had come down by nearly two to three million tonnes. All these issues would be discussed with the Railway Minister and the Minister for Road Transport and Highways, he said.

He said that he would give Rs. 25 lakh from his Local Area Development Fund for the renovation of the Board School in Udupi.

Trustee of the forum Shantharaj Aithaland Chairman of Hanuman Transport Company P. Rabindra Nayak were present.
  

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Comment on this article

  • Charles D'Mello, Pangala

    Sun, Apr 11 2010

    Why delay for such a good work...!!!?? Before taking action you wnat clear the names of your own people..????

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  • Lydia Lobo, Kadri

    Sat, Apr 10 2010

    Mr. C. Ferrer,

    Its the guilt of law braking that keeps the money is still outside India. Every government offers amnesty to set their records (broken by citizens) straight. The nation is at advantage by doing so because if we continue to accuse them, the money may never come. Moreover, the organizations that have them in deposit will not reveal names because they will lose the customers.

    Gradual transition is more beneficial to both. Let us allow India be lenient. As of your claim that the officers harass petty tax offences its we citizens who must bring such matters to light. We too are part of the offence sometimes like bribing the traffic officer, etc., aren't we ? Imagine the revenue these rich pay in taxes compared to me and you ? Obviously a bigger fish is of more advantage ?

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  • Langoolacharya, Belman/USA

    Sat, Apr 10 2010

    Patrick R Braggs, Bejai,Mangalore,

    Come on my friend, do you think Dr Oscar even for that matter Dr Moily can interpret indian constitution as it should?

    Its true he is not in cabinet, so is Mrs Sonia, both of them not parts of Government as per Indian constitution, both are legislators who's job is to make law, not to execute law.

    If they make policy statements please excuse them, and be nice to them, they are "King makers", not kings!!!

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  • Patrick R Braggs, Bejai,Mangalore

    Sat, Apr 10 2010

    As usual Mr.Oscar Fernandes issues a statement whenever he graces a function in the districts of Udupi and Dakshina Kannada which is irrelevant nor feasible in the present circumstances.What has been his contribution to this state both as a congress President of this state and as a union minister of state.Now with what authority does he make this statement is for all of us to see.He is neither in the union cabinet nor is he in the cabinet commitee.When men are pure laws are useless,when men are corrupt laws are broken.

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  • c ferrer, mangalore

    Sat, Apr 10 2010

    Sorry Lydia but if one breaks a law he must be punished- if one has statched money broad illegally he has committed a crime.He just cannot get away by bringing back the money & paying tax on it.Do you know how the tax authorities harass the common man who has short paid or short d just a small amount of a few lakhs.Do you know the amount of fine & penalty they demand (ofc with some palm greasing many reduce these demands & get away).
    As to the Govt incentives to those who report smuggling or evasion of duty it is a farce the money is rarely paid to the informer or a very small amount is paid- the rest is pocketed by the departmental officers themselves- I know from reliable sources of this.
    Politicians are the biggest culprits of black money statched abroad.

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  • Rao, Dubai

    Sat, Apr 10 2010

    Mr. Fernandes is no authorty in this matter. Congress is in no mood to follow this matter up. Forget congress, even BJP made a big hue and cry during the last elections and once elections are over, has slept over this. In short, NOBODY has a political will. ( or everyone is benefitting from swiss accounts!)

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  • Jawar D'Souza, M'Lore/Doha

    Sat, Apr 10 2010

    What do these people Gain from keeping the money in Swiss Banks, this money can be invested in India and many jobs will be created.

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  • Kateel Ramesh Prabhu, Mangalore/Bangalore

    Sat, Apr 10 2010

    It is a noble idea that the government is mooting the idea of giving incentive who give information about black money.Here that question is whether the identity of informer will be kept confidential/is protected from harassment by vested interest.Whether the things will go the Lokayukta way.Whether all citizens will come under the perview of the Act. Instead the other way of unearthing the black money is to introduce once more time to introduce the Voluntary declaration of Black money introduced by Chidambaram during the 90s which was a success.As Fernandes pointed out,the reason for bad roads especially State/NHs the reason is heavy traffic and overloaded lorries and more imopotantly the POOR QUALITY of work one on roads and NO ACCOUNTABILITY for the same at any level.Example, Shiradi ghat road which connects Dakshina Kannada the most imporatant tourist/Banking/Educational destination of the country to State capital.Required level of seriousness is not been given by leaders to bring the RESULT.

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  • Lydia Lobo, Kadri

    Fri, Apr 09 2010

    We must stop treating those who have money abroad as culprits. Because, these people are not middle-class or poor - they are the rick businessmen, politicians, film start or sportsmen. Let the govt. give certain incentives to them so that it will be legal to bring back the money. For example, transferring money to their Indian bank account like any NRI does and charge them tax on its annual income. We will be making our own country rich this way than branding them as thieves (though they are), let us put the past behind and move.

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