Indian’s deposit increases by 50 % in Swiss banks!
Friday - June 29, 2018 11:02 am ,
Category : WTN SPECIAL
Is Modi’s black money policy failed?
JUNE 29 (WTN) - In the year 2014 when Narendra Modi had campaigned for the Lok Sabha election, he had raised the issue of black money, deposited by Indians in the Swiss banks, during his election campaign. During the campaigning, Narendra Modi had even told that even if black money, deposited in the abroad, would come back in the country, then every person can get 15-15 lakh rupees. However, BJP national president Amit Shah termed it as ‘jumla’ (election slogan) later.
After coming to power, the Narendra Modi government also raised some alleged steps to prevent black money for coming back to India and preventing black money for going abroad. But the claims of Modi government to curb corruption and black money are just a matter of claim
We are saying that because according to the figures released by the Swiss banks, there has been an increase of about 50 percent in deposits of Indians in the Swiss banks in the last one year. After the release of these figures, the opposition has also targeted Narendra Modi along with the people of his own party.
The BJP leader, Subramaniam Swamy, who is famous for his ‘fearlessness in speaking’, has targeted finance secretary Hasmukh Adhyya for the Swiss bank's statistics. Swamy tweeted while writing, "Major success of finance Secy Adhia. Secret Swiss Banks accounts deposits from global sources rose by 3% last 12 months. Indians deposits however grew 50%. Adhia would have managed more if Rajeshwar was not a distraction.”
For your information, let you know that according to the latest data from the Central Bank of Switzerland, the money kept by Indians in Swiss banks accounts increased by more than 50% to Rs 7000 crore (1.01 billion francs) in 2017. Earlier, there was a steady decline in deposits of Indians in the three years here in the banks.
According to the Swiss National Bank (SNB) annual figures, Indian wealth deposited in Swiss banks accounts declined 45 percent in 2016 to 67.6 million francs (about 4500 crore rupees). According to the figures, Indians kept directly in Swiss bank accounts by about Rs 6891 crore (99.9 million francs) in 2017. At the same time, the money kept by representatives or wealth managers was 112 crore rupees (1.62 crore francs) during this period. While there has been an increase in the money of Indians, on the other side, there has been a decline of about 21 percent in Pakistan's capital market.
In the deposits of Indians in the Swiss banks, where there was decline in three consecutive years, the increase in deposit funds is a direct question on the Modi government. Prime Minister Narendra Modi’s promise to control the flow of black money outside the India is looked only a julma (election slogan). If the deposits of Indians have increased by fifty percent, then the Modi government will have to answer it to the people of the country that their efforts exactly where have been unsuccessful.
JUNE 29 (WTN) - In the year 2014 when Narendra Modi had campaigned for the Lok Sabha election, he had raised the issue of black money, deposited by Indians in the Swiss banks, during his election campaign. During the campaigning, Narendra Modi had even told that even if black money, deposited in the abroad, would come back in the country, then every person can get 15-15 lakh rupees. However, BJP national president Amit Shah termed it as ‘jumla’ (election slogan) later.
After coming to power, the Narendra Modi government also raised some alleged steps to prevent black money for coming back to India and preventing black money for going abroad. But the claims of Modi government to curb corruption and black money are just a matter of claim
We are saying that because according to the figures released by the Swiss banks, there has been an increase of about 50 percent in deposits of Indians in the Swiss banks in the last one year. After the release of these figures, the opposition has also targeted Narendra Modi along with the people of his own party.
The BJP leader, Subramaniam Swamy, who is famous for his ‘fearlessness in speaking’, has targeted finance secretary Hasmukh Adhyya for the Swiss bank's statistics. Swamy tweeted while writing, "Major success of finance Secy Adhia. Secret Swiss Banks accounts deposits from global sources rose by 3% last 12 months. Indians deposits however grew 50%. Adhia would have managed more if Rajeshwar was not a distraction.”
For your information, let you know that according to the latest data from the Central Bank of Switzerland, the money kept by Indians in Swiss banks accounts increased by more than 50% to Rs 7000 crore (1.01 billion francs) in 2017. Earlier, there was a steady decline in deposits of Indians in the three years here in the banks.
According to the Swiss National Bank (SNB) annual figures, Indian wealth deposited in Swiss banks accounts declined 45 percent in 2016 to 67.6 million francs (about 4500 crore rupees). According to the figures, Indians kept directly in Swiss bank accounts by about Rs 6891 crore (99.9 million francs) in 2017. At the same time, the money kept by representatives or wealth managers was 112 crore rupees (1.62 crore francs) during this period. While there has been an increase in the money of Indians, on the other side, there has been a decline of about 21 percent in Pakistan's capital market.
In the deposits of Indians in the Swiss banks, where there was decline in three consecutive years, the increase in deposit funds is a direct question on the Modi government. Prime Minister Narendra Modi’s promise to control the flow of black money outside the India is looked only a julma (election slogan). If the deposits of Indians have increased by fifty percent, then the Modi government will have to answer it to the people of the country that their efforts exactly where have been unsuccessful.
