Govt sees lever in black money Bill

The Bill on unaccounted money could be the Narendra Modi government’s opportunity to counter the Congress-led Opposition’s aggression in Parliament, on the land acquisition ordinance.

Government sources, including senior ministers, indicated some ‘individual’ Opposition members of Parliament wanted the black money Bill to be referred to a parliamentary committee, ‘scared’ as they are of some of its provisions.

“Wait and watch” is what they advised, when asked who these MPs were.

It is standard procedure since 1993 to refer important Bills to the mechanism of a parliamentary committee, to go deeper into the merits and reach a consensus.

Finance Minister Arun Jaitley had introduced the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill (black money Bill in popular parlance) in the Lok Sabha on March 20, the last day of the first half of the  session before Parliament went for a month’s break.

Government sources said on Tuesday they intended to resist any Opposition demands that the proposed Bill lacked teeth and should be referred to a parliamentary committee.

The government is likely to argue that ‘some’ in the Opposition are apprehensive of the provisions and that it would thwart any diluting of the Bill.

This, it is thought, would deflect attention from the heat the government is facing on the land ordinance and also take away any political capital for the Opposition out of the black money Bill.

 The issue of black money and an effective legislation to bring back unaccounted money kept abroad was a key plank of Prime Minister Modi during his 2014 Lok Sabha campaign and a commitment his Bharatiya Janata Party made in its manifesto.

The government, therefore, does not want the Opposition to rob it of the public acclaim it believes is rightfully that of its leaders.

The Bill is likely to come for discussion in the Lok Sabha after passage of the finance Bill by April 30.

The hurdle for the government will be in the Rajya Sabha, where it is in a minority, and where its contentious land ordinance could also get stuck.

A Bill to replace the re-promulgated land ordinance is also slated to be introduced in the Lok Sabha in the coming days.

Government sources are still hopeful of finding support on the ordinance from some of the non-Congress and non-Left parties in the Rajya Sabha.

Sources also said the government would try ensure that the goods and services tax constitutional amendment Bill be passed during the ongoing session.

The image is used for representational purpose only