Make law on foreign money for top brass, says advani

Senior BJP leader LK Advani on Tuesday demanded a law to make it compulsory for the top political class, including chief ministers, MPs and presidents of political parties to declare if they have money stashed in foreign banks.

Senior BJP leader LK Advani on Tuesday demanded a law to make it compulsory for the top political class, including chief ministers, MPs and presidents of political parties to declare if they have money stashed in foreign banks.

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The BJP veteran made this demand in the presence of top NDA leaders, Sharad Yadav, Sushma Swaraj, Parkash Singh Badal, Gopinath Munde, who came together to release a report on Indian black money abroad prepared for the party by a panel comprising noted chartered accountant S Gurumurthy, former IB director Ajit Doval, IIM-Bangalore professor R Vaidyanathan and advocate Mahesh Jethmalani.

Badal said NDA CMs will set the tone by voluntarily asking the government to seize any money they may have abroad and take action.

"We want that a law be made that such declaration be made compulsory. If the money has been legitimately earned, there can be a provision against its confiscation," Advani said.

This is seen as an attempt both to target Congress president Sonia Gandhi and claim the moral high ground for the NDA. Advani sidestepped questions if he would demand Gandhi too make a formal declaration.

He said only a small proportion of the Indian money abroad was for tax evasion; large amounts pertained to the fruits of corruption, bribery, kickbacks and illegal activities.