New Delhi, Nov 18 (IANS): Prime Minister Narendra Modi on Wednesday said the government has taken "significant steps to check corruption and the menace of black money".
"The government has taken significant steps to check corruption and the menace of black money in a short span of time," Modi said at the inauguration of sixth Global Focal Point Conference (GFPC) on Asset Recovery, and the 21st Annual Conference of CBI and State Anti-Corruption Bureaus here at Vigyan Bhavan.
"Our government is committed to making bureaucracy more efficient, performance oriented and accountable," Modi said.
"We in India are currently in a crucial phase of nation building. Our mission is to build a prosperous India," he added.
He said it was essential to fight relentlessly against corruption and that the government was unsparing when it came to punishing the corrupt.
Extending a warm welcome to over 100 delegates from 50 countries, Modi said: "Corruption is one of the principal challenges to that objective."
"Governments across the world work to transform the lives of the poor and the marginalised. This is not an impossible mission. However, to achieve this objective, it is essential to fight relentlessly against corruption," he added.
He said India stands committed in its fight against corruption.
"The very day that we assumed office, we constituted a Special Investigation Team (SIT) under the supervision of the Supreme Court to look into the issue.
"We have entered into agreements with many countries for exchanging real time information on black money," Modi said.
He said the Indian government has signed the Inter Government Agreement with the US to implement the Foreign Account Tax Compliance Act.
"This agreement enables Indian tax authorities to receive financial account information of Indians from foreign countries on an automatic basis." he further informed.
He said a comprehensive and deterrent law, the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act has been enacted.
"It provides for stringent penalties and prosecution."