Swadeshi Jagran Manch (SJM) demanded the Government of India to take immediate steps to bring back the money stashed away in Swiss bank accounts and utilise it for repaying the foreign debts, for rural development and building infrastructure in agriculture and rural sectors including housing facilities for millions of people in 6.40 lakh villages of the country.
The SJM also demanded an appropriate legislation to curb the generation of black money from the economic system and also to unearth the same from the economy for the welfare of the poor and deprived section of the society. The SJM is going to launch a massive agitation throughout the country for creating awareness and exerting pressure on the government to bring back the money. The decision to this effect was taken at the central working committee meeting of SJM held in New Delhi on March 28 and 29.
According to a resolution adopted at the meeting, the Indians have stashed away $1.4 trillions of the total amount of $2.15 trillion in the undisclosed Swiss bank accounts. The other four countries in the list of top five countries include Russia with $470 billion, UK $390 billion, Ukraine $100 billion and China $96 billion. India'sdeposit exceeds the aggregate of the rest of the world. ?The operation of the tax heavens and lack of transparency in the global financial system are equally responsible for the furtherance of the generation and nurturing of the black money within and outside the borders of the country. In other words, the money belonging to the share of the poor people of this country are transferred illegally and deposited in undisclosed accounts in Swiss banks and sometimes brought back as investment through the stock market in the name of unidentified persons and thus endangering the economic security and sovereignty of the country,? the resolution added.