Govt to take steps on black money parked abroad: Prez

The UPA Government will "vigorously" pursue steps against illegal money of Indians in secret bank accounts abroad, President Pratibha Patil said today.     

"My Government is fully seized of the issue of illegal money of Indian citizens outside the country in secret bank accounts. It will vigorously pursue all necessary steps in coordination with the countries concerned," Patil said in her address to Parliament.     

The new  government agenda, as reflected in the President's address, deals with a topic that became an election issue.     

The principal Opposition, Bharatiya Janata Party, had blamed the government for not making efforts to bring back into the country as much as Rs 25 lakh crore worth of black money stashed in foreign banks.     

The issue also went to the Supreme Court, where the government filed an affidavit stating it has received information about Indian account holders in a German Bank. But it did not reveal the names on grounds of "confidentiality".     

It had said that the German government provided the information on March 18 this year about the Indian account holders in the LGT Bank, Liechtenstein.     

On the issue of deposits in banks in Switzerland, the affidavit said the Government has acted with utmost expedition.