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Govt says will get black money data from Swiss bank by next year

June 29, 2018
New Delhi: A day after Swiss national bank released data showing that money parked by Indians rose over 50 per cent to 1.01 billion Swiss farnks(Rs 7000 crore) in 2017, the government today said it will get back the money from the by next year.
Answering questions from reporters about the Swiss data, Union Finance Minister Piyush Goyal said,” We will get the information and if anybody is found guilty, strict action will be taken.”
Under an agreement signed by the Modi Government with Switzerland, India will get all data on black money from the country by the end of the fiscal 2019, he said.
The Swiss bank national data revealed that after falling for three years in succession, money parked by Indians in the bank rose per cent in 2017 over the 2016.
The swell in Indian money in Swiss bank comes as a surprise in the wake of the Government’s continuing fight against suspected black money lying abroad.
Soon after Goyal’s remark, Congress president Rahul Gandhi took to Twitter to take a swipe at the Modi government over what he called its failure in fighting black money.