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This is an archive article published on April 18, 2009

‘Swiss bank money not just poll issue’

Prime ministerial candidate of the NDA L K Advani on Friday promised to bring back “black money” stashed in “tax havens...

Prime ministerial candidate of the NDA L K Advani on Friday promised to bring back “black money” stashed in “tax havens” within hundred days if voted to power. Releasing an interim report by a task force created by the BJP,Advani said the issue of “black money” stashed in Swiss bank accounts needed to draw a national consensus beyond political party lines.

“This is an issue linked up with security. I would not like it to be a partisan issue,though people have scoffed at me. People who have studied the matter say that it is not just Swiss banks but 70 other tax havens,where those who have money from corruption and terror can keep it. People today are concerned about money and security and this issue concerns both,” said Advani.

The task force — comprising ideologue and chartered accountant S Gurumurthy,security expert Ajit Doval,Professor of Finance at IIM-Bangalore R Vaidyanathan and senior lawyer and party’s LS candidate Mahesh Jethmalani — has suggested “creating powerful public opinion in the country; India refraining from being a silent spectator to G20 efforts against these tax havens; urging the German Government to disclose names of Indians; striving for global multilateral efforts and participate actively in the ongoing efforts; and appointing a special ambassador to work with G20 for framing India-friendly rules”.

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The panel also recommended that “travel information about persons visiting Switzerland and other tax havens be collected” and the Government of India constitute a task force with representatives from the Finance Ministry,Intelligence agencies,RBI,SEBI,CVC,CBI and other agencies to collect information and start legal action wherever possible.

Advani said the details of Swiss accounts had come to light after Germany persuaded one bank to reveal data about its accounts through ‘bribe’ and is now willing to shares the data with other countries.

“India should stop being a silent spectator in the matter. Like the Obama Government which is planning anti-tax haven laws,if elected to power the NDA will pursue the part and enable the government to act.”

Booklet gets back at Jairam

The party also came out with a 16-page booklet titled “Rs 25,000 crore — India’s corruption and crime money parked in Swiss banks and tax havens — BJP pledges to bring it back” on the occasion. The booklet cites a number of sources and also responds to Congress leader Jairam Ramesh’s interjection on the issue. The booklet says: “Jairam Ramesh has said the BJP’s ‘entire edifice of numbers on the black money issue is a total hoax’. This needs to be exposed by appropriate,sincere,skillful communication to the people,without whose support this undertaking will not succeed. When France and Germany took up the anti-tax haven agenda in the G20 preparatory meeting at Berlin in February 2009,and Britain didn’t support it,the British Prime Minister Gordon Brown was so severely criticised that within two weeks he had to come around to support them. This is the power of public opinion. The BJP must endeavour to create a powerful public opinion on the issue for which the current elections provide the best opportunity.”

‘BJP made India N-powered’

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Advani responded to queries that BJP makes promises yet does not deliver,by saying that they made India N-powered despite opposition from the USA,China and even present PM Manmohan Singh.

“We had said in 1964 that we would make India nuclear power after we suffered humiliation in war. We delivered the promise in 1998,though the USA,China and even Manmohan Singh opposed it. That time even Left parties supported us,” said Advani.

‘Obama bin Laden’

Meanwhile,while reading out a paragraph from the report about steps taken by the USA after 9/11 to track down money stashed in Swiss bank by Osama bin Laden,Advani in a slip of tongue,confused Obama for Osama and said “Obama bin Laden”. However,when an aide pointed out the error ,Advani apologised for the slip-up.

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