Disclose black money; you won't get another chance: Jaitely

FM said that in the last one year, Indian govt has had extensive negotiations with the Swiss authorities

Union Finance Minister Arun Jaitley on Tuesday expressed his delight after the Swiss authorities shared the names of two Indian nationals in connection with the black money issue, noting that Bern's cooperation had come on the anniversary of the Prime Minister Narendra Modi-led government's taking charge of office.

"I am extremely encouraged by the Government of Switzerland and the competent authorities there in cooperating with the Indian request. I have been repeatedly saying that the veil of secrecy with regard to assets and monies kept by the Indian entities outside India is going to be lifted.

"As it is, some countries have already been cooperating; the world is moving in the direction of automatic exchange of information. In the last one year, we have had extensive negotiations with the Swiss authorities. These negotiations have been at the level of the Revenue Secretary and at my own level on two occasions, and the Swiss authorities have been moving in the direction of cooperation," Jaitley said at Karnali village in the Dabhoi Taluka of the Vadodara District of Gujarat.

"I am delighted; this cooperation could not have fructified on a better day: when our government completes its one year. This should give a sufficient indicator to those who would take assets outside India: you are getting a second opportunity to pay the penalty and taxes, and if you don't utilise it, it may not be in your own interest," he added.

Earlier, Swiss authorities revealed the names of Indian nationals Sneh Lata Sawhney and Sangita Sawhney in their Federal Gazette and reportedly asked them to file an appeal within 30 days to avoid having their details shared with New Delhi.