The Bharatiya Janata Party (BJP) on Wednesday said that the passing of the Black Money Bill in the Parliament reflected the ‘conviction’ of the Prime Minister Narendra Modi-led NDA Government to punish those guilty of stashing illegal wealth abroad.
“It’s to the credit of the present government and Prime Minister Modi that Black Money Bill has been cleared by both Houses, it will become an Act now. It shows the conviction of the government and Prime Minister Modi to punish the guilty and all those who have stashed black money abroad,” said BJP spokesperson G.V.L Narasimha Rao.
Meanwhile, another BJP leader Subramaiam Swamy stressed on the fact that the Bill stood primarily for the purpose of punishing those who are found guilty of stashing black money abroad.
“The Black Money Bill has no provisions to bring back black money. It’s to punish the people caught with stashing black money abroad,” said Swamy.
Earlier in the day, the Rajya Sabha passed the Black Money Bill. Its passage in parliament now provides the government with the right to impose a penalty and a tax of up to 120 percent along with the right to sanction criminal prosecution for those parking black money in safe havens abroad.
The Bill, which also provides for rigorous imprisonment of up to ten years for offenders, had been passed by the Lok Sabha on Monday. (ANI)