Central Government today had revealed the names of three Black Money holders in an affidavit to the Supreme Court. According to the reports emerging, Pradip Burman, director of the Dabur Group, Pankaj Chimanlal Lodya, a Rajkot-based bullion trader and Radha S Timblo, a Goa-based miner and owner of Timblo Pvt Ltd.
It is said that four members of the Congress party, including a former minister of the previous UPA regime are also involved and their names will be revealed only after the investigation is completed.The Union government has revealed that it can not reveal the details of all the black money account holders since the government can not make allegations with out concrete proofs.
According to Global Financial Integrity (GFI), a Washington-based think-tank, there is an estimated USD 462 billion hoarded by the Indians between 1948 and 2008. It is the prime poll promise of Prime Minister Narendra Modi and his party to bring back the black money hoarding in foreign banks for several years primarily to avoid taxation. About a third of India’s black money transactions are said to be in real estate, followed by manufacturing and shopping for gold and consumer goods.
