In what could be a sudden twist, The Supreme Court of India had asked the Union government to reveal all the names of Black Money Holders it has on Wednesday.It is known to our readers that the government has already revealed few names on Monday which includes 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.
The Central government has informed the Court that it can not reveal all the names in the list with out proper evidence but the court asked them to reveal all the names by tomorrow. The government has requested the court to change its verdict but the court has not agreed for it and refused to change a word in the verdict. Political parties and Businessmen will have sleepless nights today over tomorrow.
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.
