September 17, 2026 02:30 pm (IST)
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Jaitley jeers Congress on black money issue
New Delhi, Oct 21 (IBNS): Taking a dig at Congress’ jibe that NDA Government doesn’t want to reveal the names of the Indians who have black-money stashed in foreign banks, Union Finance Minister Arun Jaitley on Tuesday said that when the names will be disclosed in court, Congress will be left embarrassed.
Speaking exclusively to NDTV, Jaitley said that Centre has never said that it will not reveal the names of Indians who have undeclared income parked in foreign bank accounts.
The reaction came after Congress recently took a jibe at Centre by saying that BJP-led NDA (which attacked the previous UPA Government accusing them of not disclosing the name of Indian black money account holders), now not being able to disclose the names in spite being in power.
Congress’ attack came on the wake of Government’s response last week in Supreme Court, where it said that Centre cannot yet publicly disclose a list handed over by Germany in 2009 of Indians with accounts in the tax haven of Lichtenstein.
The Centre told the top court that tax treaties forbid the disclosure of names till charges is framed in court. The recovery of black or illicit money from abroad was a major campaign issue taken by the BJP ahead of the national election. BJP said, the Congress was using tax treaties as an excuse to shield the guilty.
Jaitley on Tuesday said, "Once we inform the court, the names will automatically come out in public.”
He however maintained that this process will end soon, adding that it's the Congress who needs to be worried, not the BJP.
"The Congress will be embarrassed by the names when we reveal them in court," Finance Minister said.
The Supreme Court has set up a special team to work out how to recover black money. The case was brought to the top court by noted lawyer Ram Jethmalani in 2009. He also accused Congress-led previous Government’s treaty that is causing the hindrance.
Jaitley stressed that the tax treaties that compel confidentiality at this stage of investigation were signed by the Congress government in 1995.
Jaitley also said that Switzerland has agreed to share information about at least 500 Indians who held accounts at HSBC in Switzerland, against whom evidence has already been collected in India by tax officials.
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