Modi welcomes passage of black money bill

Prime Minister Narendra Modi on Wednesday welcomed the passage of black money bill in parliament, terming it a "historic milestone".

"Passing of Black Money Bill is a historic milestone. Personally, I am very delighted. It indicates the priority we attach to the issue," Modi tweeted.

Parliament on Wednesday approved the Undisclosed Foreign Income and Assets Bill, popularly known as the black money bill, providing for heavy penalties for stashing black money away in foreign accounts.