We will get data on black money in Swiss bank by next year: Piyush Goyal

New Delhi, June 29: The amount deposited by Indians in the Swiss bank last year has increased by 50 percent. And the point was caught by the opposition party but in a reply, the Union Minister Piyush Goyal gave an answer through media that deposit in the Swiss bank has been reduced from the time PM Modi govt is there.

 

"Agreement between India and Switzerland has this. From January 1, 2018, until the end of accounting year (ends March 31, 2019), all data will be made available. Why assume this is black money or illegal transactions?" Goyal said while talking with the media.

Once the data gets available necessary actions will be taken.

Significantly, statistics have been issued by the Swiss National Bank under the framework of the Automatic Exchange of Information between India and Switzerland. After giving evidence against the people who deposited black money in Swiss bank by India and other countries, Switzerland had agreed to share the information of their customers. Under the new agreement, Switzerland is helping India in the operation against black money.

The year 2006 saw the highest amount of deposit that is nearly 23000 crores. Since then the amount has been reducing.