Lok SabhaRajya Sabha

March 10, 2017

Saugata Roy asks a Supplementary Question on confiscation of assets of economic offenders

Saugata Roy asks a Supplementary Question on confiscation of assets of economic offenders

FULL TRANSCRIPT

Sir, since it came to power, the NDA Government has been shouting from the rooftops that it would take all possible steps to curb the use of black money. Even before the elections they had promised that they would bring back the black money stashed abroad and deposit Rs 15 lakh in the account of every Indian. Now almost three years have passed, and the same has not happened.

In spite of the earlier existence of the FEMA Act and the Prevention of Money Laundering Act, and the enactment of Black Money (undisclosed Foreign Income and Assets and Imposition of Tax) Act, we have seen that high-profile economic offenders like “Kingfisher and IPL man” had escaped abroad and are living merrily there.

Hon’ble Minister, what steps have been taken to confiscate the assets of the IPL man and the Kingfisher man, and what steps are being taken to prevent the escape of similar offenders abroad by the Government, both administratively and legislatively?