Congress rejects PM Modi's assertion of 'reduction of black money deposit in Swiss Banks'

The Congress on Saturday came down heavily on Prime Minster Narendra Modi for remarking that there has been drastic reduction of Indians depositing black money in Swiss Banks after his government took charge, and asked for proper proof on the same.

Congress leader Salman Khurshid said that the Prime Minister was just 'narrating a story' and it was not necessary to believe what he said.

"This is just a story he is just narrating. Whatever speeches that are made by the Prime Minister, the government fails to prove it with facts. We will not believe whatever he says," Khurshid told ANI.

Expressing similar views, another Congress leader Kapil Sibal attacked the ruling Bharatiya Janata Party (BJP) for failing to fulfill its promises on black money.

"On what basis he is saying I don't know, but the promise made by the BJP during elections that every citizen's bank count will be transferred has not taken place so far. Till now we have not retrieved any black money," Sibal told ANI.

Congress leader Anand Sharma instead sought "account of his mis-performance and betrayal of the people by non delivering on the promises the prime mistier made".

Quoting a report by the Swiss Bank, Prime Minister Modi said that there has been a 45 percent drop in the deposit by Indians in foreign accounts, the lowest ever in years.

"Swiss Bank in its report has stated that there has been a 45 percent drop in the deposit by Indians, the lowest ever witnessed in years," said Prime Minister Modi.

He further informed that two years from now, the Swiss Bank in its report will be presenting a consolidated version of real-time data, which will pose a serious issue for those who have been depositing money in accounts abroad.

"Over three lakh registered companies are now under the scanner after the demonetisation drive. In the last 48 hours, one lakh more bogus companies have been sealed, merely by the stroke of a pen", he said adding that this is a result of prioritising patriotism over politics.

With regards to the 'havala trade', Prime Minister Modi also revealed that over 37,000 shell companies have been identified, adding that strict action will be taken against those indulging in money laundering and other such activities.

"A country where a select few loot, such a nation cannot scale new heights. These select few never want the nation to grow. Those who have looted the poor will have to give back what they have looted," the Prime Minister said in his address at the foundation day of Institute of Chartered Accountants of India.

He added that the Government of India has taken a tough stand against those who have looted the nation.

"There is a ' Swachh Bharat Abhiyaan' and there is a movement to clean the nation from the menace of corruption," Prime Minister Modi said.

-ANI