Black money issue: Derek O'Brien dubs BJP as 'Bakwas Jumla Promises'

Trinamool Congress (TMC) spokesperson Derek O'Brien on Wednesday dubbed the BJP as 'Bakwas Jumla Promises' and said the NDA Government needs to show some tangible action in bringing back the black money stashed in safe havens abroad.

"BJP [is] Bakwas Jumla Promises when it comes to black money. They have to show some concrete action. Today, I hope in the Rajya Sabha, this Black Money Bill is discussed," O'Brien told ANI.

The Black Money Bill, which provides for penalty and tax up to 120 percent along with criminal prosecution for those who have parked black money abroad, was passed in the Lok Sabha on Monday.

Union Finance Minister Arun Jaitley, who moved the bill in the Lok Sabha, asked the opposition not to develop 'cold feet' in supporting the legislation.

Jaitley also rejected the opposition demand to refer it to the Standing Committee. The minister said that a delay in enacting the legislation would provide opportunity to offenders to transfer unaccounted overseas wealth to other unknown destinations.

The bill provides for rigorous imprisonment of upto 10 years for offenders.