BG Fresh moves to recover black money: Swamy

With the BJP under attack from the opposition over the black money issue, party leader Subramanian Swamy Saturday said the central government would initiate fresh moves to recover the money stashed in tax havens.

Participating in an interactive session here organised by the Merchants Chamber of Commerce, Swamy said the centre was cautious in its approach to the issue as "a lot of people, including prominent figures, would be hurt in the process".

"From June onward, the government will initiate fresh steps to bring back black money. The list of who have stashed black money is a long one including several prominent names who will be hurt in the process. So it is being done in small doses so that the crisis could be managed," he said.

Swamy also said that he has written to Prime Minister Narendra Modi about effective ways inducing a resolution by the United Nations to recover in excess of Rs. 120 lakh crore lying in foreign banks.

He also flayed RBI governor Raghuram Rajan for his "anti-growth" policies and asserted that it was time for him to go.

"He (Rajan) believes the only way to control inflation is to raise the interest rates. The fact is, the high interest rates have discouraged investment in our country leading to arbitrage," added Swamy.