Monday, May 21, 2012

BJP's Jaswant Singh describes finance minister Pranab Mukherjee's white paper on black money as a bikini

Senior BJP leader Jaswant Singh in his very understated tone and language described the much awaited White Paper on back money which was placed on the table of Lok Sabha on Monday as unsatisfactory because it does not reveal anything useful. He compared white paper to a bikini and its famous definition that a bikini conceals the essentials and reveals the inessentials. He also called the white paper a non-paper.
Singh citing statistics mentioned in the white paper Singh showed that according to Swiss National Bank, the estimated Indian accounts totaling Rs 23, 373 crore in 2006 and it stood at Rs 9,295 crore in 2010. He wondered where the Rs 14,000 odd crores just melted away and there is no accounting it.
When asked whether the BJP-led NDA government had tried to assess the black money of Indians stashed in Swiss and other foreign banks, Singh admitted that the NDA government did not carry out any such  assessment because the invest climate was much more friendly at the time, and he also said that it was only after 2004 that the United States and the United Nations connected black money with drug trafficking and terrorism.
He also said that the white paper did not reveal as to how much of the money was generated from arms deals and by arms merchants, how much because of tax evasion.

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