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“AAP” Audits Recovery Of Rs 3,770 Crore Black Money

[New Delhi]AAP Audits Recovery Of Rs 3,770 Crore Black Money
Aam Aadmi Party[AAP]today ridiculed PM Narendra Modi’s “tall claims” on black money following the recovery of Rs 3,770 crore under the one-time compliance window and asked him to own up his “monumental failure” in recovering Rs 80 lakh crore, as promised.
Taking a dig at Modi’s pre-poll “promise” of depositing Rs 15 lakh in every Indian’s bank account, AAP said that the NDA government should consider putting “Rs 18.62” instead due to the massive shortfall in recovery.
.spokesperson Raghav Chadhha said that the government lacked “political will” to recover black money and urged Modi to acknowledge his “monumental failure” in putting Rs 15 lakh in every bank account as promised during the 2014 poll campaign.
Terming it as a “damp squib”, Chadhha sought to know the rationale behind government’s new black money law (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 when existing laws were “stringent”.
“The PM in his Independence Day speech had said Rs 6,500 crore of undisclosed foreign assets have been declared under the compliance window of the new law. During election campaign he had promised to bring back Rs 80 lakh crore stashed abroad.
What explains the monumental failure in doing so?” Chadhha asked.
Chadhha said that the law is silent on domestic black money which he said makes up for more than 90 per cent of the total amount. “Only 10 per cent of the amount is stashed abroad.”
“Despite tall claims, due to lack of political will various investigating agencies are not cooperating with the SIT on black money that was set up as per the Supreme Court order,” he said.