Asserting that his government is unsparing in punishing the corrupt, Prime Minister Narendra Modi on Wednesday said that Central government has taken several steps to check the menace of ‘Black Money’. Speaking at the Sixth Global Focal Point Conference on Asset Recovery being hosted by the CBI, the Prime Minister said corruption is one of the “principle challenges” across the world which needs to be countered in order to transform the lives of poor and marginalised.
“Our mission is to build a prosperous India… This is not an impossible mission. However, to achieve this objective, it is essential to fight relentlessly against corruption. India stands committed in its fight against corruption,” said PM Modi.
Highlighting the achievements of the BJP-led NDA government in tackling corruption, PM Modi cited the move to set up a Special Investigation Team (SIT) under the supervision of the Supreme Court to look into the black money issue.
“The Government is unsparing when it comes to punishing the corrupt. We have so far removed and ensured pension cuts of 45 senior officers of various services for unsatisfactory performance and delivery in public service,” he said.
India has also entered into agreements with many countries for exchanging real time information on black money besides signing an Inter Government Agreement with the US to implement the Foreign Account Tax Compliance Act (FATCA), mentioned PM Modi.
Besides this, a comprehensive and deterrent law, the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act, has been enacted which provides for stringent penalties and prosecution.
At the same time the Prime Minister also added that the Government is committed to ensuring probity among public servants and to protect them from frivolous allegations.
“We have also introduced a provision under the Prevention of Money Laundering Act (PMLA) for restitution of assets. This will enable millions of poor investors who have lost money in ponzi schemes to recover a part of their hard earned money,” he added.
(With inputs from the PTI)