Time to Blackout the Money

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Time to Blackout the Money

During the last general elections the BJP government promised to bring all the ill-gotten money which has been stashed away in Swiss banks and other safe havens and it seems it may keep a little bit of that promise today. The Modi government plans to reveal the names of three individuals who have put a lot of money into secret bank accounts according to Times of India.

And according to various news channels three persons named are Pradip Burman, director of the Burman Group, Pankaj Chimanlal Lodya, a Rajkot-based bullion trader and Radha S Timblo, a Goa-based miner and owner of Timblo Pvt Ltd.

In a tweet the Burman group said “Unfortunate that every person having a foreign bank account is being painted with the same brush: Burman Group.” Also in a second tweet the Burman Group said “A/c was opened when he (Pradip Burman) was NRI, was legally allowed to open this accnt: Burman Group on media reports on black money holders.”

This new revelation must make watching the news today very interesting for everyone and with more names of politicians could be released the rush for damage control will be the order of the day. If reports are to be true four names from the congress party one which has been alleged to a former union minister could be released. The earlier statement which came from congress was that if the reports of a senior congress leader who was also a minister during the last UPA government would be a matter of shame for the individual and not the party.

However as the congress party circles the wagons to protect its top leadership from the new onslaught it has also called this entire action as a “Selective Leaks” and called the center for its hypocrisy in dealing with this matter. Congress Party spokesperson and General Secretary Ajay Maken said “The Congress is not going to be blackmailed under any such threat… Do not try to blackmail us,” also “stricter possible action should be taken against whoever is involved in it but that should not be inspired by vindictiveness and it should also not be half truths.”It is estimated that nearly 500 billion dollars of black money is right now laying in many foreign banks and there is a strong possibility of more money if investigations are carried out fairly.

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