Government fully committed on black money issue: PM Modi

Prime Minister Narendra Modi has in an exclusive interview with ANI said that his government is ‘fully committed’ on the black money issue, adding that they want to make it more difficult to evade taxes and siphon money abroad.

“My Government is fully committed on the issue of Black Money. We want to crack down severely on tax evasion and black money. I had taken up this issue with world leaders during the G-20 summit. In our very first cabinet meeting, we formed an SIT. Then, we presented a new legislation in Parliament which is very stringent,” Prime Minister Modi said.

“We want to make it more difficult to evade taxes and siphon money abroad. We are also aggressively pursuing cases against those who have stashed funds illegally in foreign banks. Recently the names of some such persons have been revealed. We are also trying to move towards cashless transactions. We want to make maximum use of ICT in our tax administration,” he added.

Prime Minister Modi further said that the government wishes to remove the ‘discretion’ which results in corruption and the generation of black money.

“At the same time, we want to remove the discretion which causes corruption and generation of Black Money. Hence, we promulgated ordinances in sectors like coal and mines. It has proved to be a good step. We have generated Rs. 3.30 lakh crore for the country so far through transparent auction of some coal mines. Similar is the case with auction of spectrum. I can say that if your intentions are noble, you are sure to get success and required support,” he said.

The NDA Government, which had had taken charge at the Centre on May 26 last year, completed one year in office on Tuesday.