Need strong laws to bring back black money stashed abroad: Rajiv Pratap Rudy

  • HT Correspondent, Hindustan Times, Chandigarh
  • Updated: May 28, 2016 10:51 IST
Union minister Rajeev Partap Rudy with MP Kirron Kher in Chandigarh on Friday. (HT Photo)

Union minister of state for skill development and entrepreneurship Rajiv Partap Rudy on Friday called for strong bankruptcy laws to deal with those stashing black money abroad.

He was speaking here on the completion of two years of the Narendra Modi government at the Centre when the media asked him why the ruling Bharatiya Janata Party (BJP) had failed to fulfil its election promise of bringing this illegal wealth back in 100 days of winning power. “Different countries have different laws,” he said, “so sometimes dealing with that become difficult and a long process that involves first identifying where the money is stashed.”

Bringing back black money was a major poll plank of the BJP before the 2014 parliamentary elections. Even after two years, there is no success major success, even though some of the names have come out in Panama papers. “There are different treaties with different countries, so we need a strong bankruptcy law to deal with all that,” Rudy claimed.

He spoke on the Prime Minister’s schemes for financial inclusion, crop insurance, free LPG to the poor, and the development and refinancing of micro units. “The decision to transfer LPG subsidy into the consumers’ accounts directly has saved Rs 15,000 crore,” said the Union minister, adding: “Measures in the finance sector have swelled the country’s GDP (gross domestic product) and foreign exchange reserve, brought in rapid foreign investment, and controlled price rise.”

‘Good response to schemes in Punjab’

He claimed that the Centre’s skill development programme had been received well in Punjab. “Launched on July 5, it has enrolled more than 84,000 people, so far, and ministry is looking an extensive modernisation of the ITIs (industrial training institutes) and building multi-skill-training institutes, besides a model skill centre in each Punjab district,” Rudy said.

Union minister of state for steel and mines Vishnu Deo Sai, Chandigarh MP Kirron Kher, national BJP executive member RP Singh, and party’s Chandigarh unit president Sanjay Tandon were present.

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