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Government mulling to declare black money national asset

New Delhi, June 3 (IANS) With graft-fighter Baba Ramdev relentlessly vowing to go ahead with his mass hunger strike against corruption in India, the government Friday said it was considering declaring black money stashed in foreign banks as “national asset” - one of the demands the yoga guru has raised.

 
 In a late evening press statement following a marathon meeting between senior ministers and Ramdev that failed to stop the guru from calling off the fast programme, the government said that a committee is already in place to suggest how to strengthen existing laws relating to black money.
 
 "The committee will examine the measures to strengthen the existing legal and administrative framework to deal with the menace of generation of black money through illegal means," it said.
 
 Among other things, the panel is examining the demand of "declaring wealth generated illegally as national asset; amend laws to confiscate and recover such assets; and providing for exemplary punishment against its perpetrators," the statement said.
 
 It said the panel was also looking at collection of details regarding people who go frequently to “tax havens”.
 
 “The government proposes to expand its immigration/emigration databases and build a database of Indians going frequently to foreign countries considered to be tax havens and returning to India.”

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