Mangaluru: Black money @ Rs 120 Lac crore back to India in 6 months - Subramanian Swamy

Bellevision Media Network

Mangaluru, 16 Nov 2014: Famous politician and an excellent orator Subramanian Swamy said that the union government will get the black money that is estimated to be over Rs 120 lac crore back to India by 6 months which is deposited in various countries.
 
Subramanian Swamy was speaking during a conference on ‘A war against corruption and terrorism,’ hosted by Citizen’s Council, here on Saturday November 15.
 
Swamy who’s pretty confident with PM’s efforts said Prime Minister Modi is determined to bring the black money back to India. However, Swamy said that the PM had committed a mistake by not raising the issue with United States during his recent historic visit to the US.

 

 

Dissecting the greatest threat faced by India of terrorism, Swamy said that accommodating terrorism is the greatest mistake a society can commit. ‘Terrorists have come to India with Indian passport. They are playing with our stock market and all this is possible only because of a derivative in the financial world created by the governments in the past,’ said Swamy explaining that a derivative called Participatory Note issued by registered foreign institutional investors (FII) to overseas investors enables the latter to invest in the Indian stock markets without registering themselves with the market regulator, the Securities and Exchange Board of India (SEBI).
 
This kind of a derivative exists only in India and though S S Tharapore Committee had recommended abolition of Participatory Notes, UPA government refused. Even when BJP was in power years ago, it didn’t abolish. ‘But now, that the BJP has come back to power, I will ensure that it will be abolished before the term ends,’ said Subramanian Swamy.
 
Recalling the Indian Airlines plane hijack to Kandahar incident, Swamy said that the terrorists put forward the demand of releasing 3 dreaded terrorists, if India wanted to secure the release of 159 passengers. The government bowed down to the pressure and released 3 dreaded terrorists, who went out and killed scores of Indians.
 
 
Sonia Gandhi will celebrate this Christmas in jail
 
Swamy later said that he is hoping to see AICC president Sonia Gandhi in jail this Christmas, who allegedly faces the prospect of conviction in the Rs 5,000 crore National Herald ownership case.
 
‘The court has summoned Sonia Gandhi to appear before the court on December 2, and subsequently she will be in jail by Christmas,’ said Swamy.