Govt must reveal names of all 700 black money holders: BJP

Bharatiya Janata Party leader L K Advani's pet issue of bringing back black money on Tuesday got a shot in the arm with France giving names of 700 Indians having such accounts abroad, leading to raids on their premises and prompting his party to demand that the government reveal their identities.

BJP also demanded that the government make public the action taken to bring back Indian money stashed abroad and steps initiated to prosecute such tax evaders.

The Opposition alleged that the Congress-led government has no will to handle corruption and black money issues.

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"It alleged that the ruling party was using 'every means available' to protect and save the corrupt.

"Today media reports show how again by sheer fluke, effortlessly from the French Government, the Indian government received a compact disc listing 700 bank accounts belonging to Indians in the HSBC Bank, Geneva.

"It is estimated that this bank alone may have up to Rs 4000 crores (Rs 40 billion) of Indian deposits," BJP spokesperson Nirmal Sitharaman said.

Central Board of Direct Taxes conducted raids on some of those named in the list, including three members of Parliament, according to media reports.

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Directorate of Criminal Investigation under the Income Tax department is also investigating into those in the list.

"Government of India should disclose all the 700 names in the list received, as reported, from the French government.

The government should also release a statement on action taken, if any, on getting back black money from abroad and prosecuting tax evaders in India," Sitharaman said.

Advani had raised the issue of Indian Black money stashed abroad during the 2009 Lok Sabha elections and since then the BJP has kept the issue alive both inside and outside Parliament.

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Sitharaman said though black money was a significant issue in the 2009 polls, the Congress had 'heckled' Advani on the matter during the campaign and 'lives in denial' on its gravity.

She further alleged that government had avoided ratifying the UN Convention against Corruption.

"Even after two years had passed after obtaining from the German government a list of black money holders in one bank in Liechtenstein, the government did not take any action.

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Only after directions from the Supreme Court, did the government release a few names -- a partial list- to the court," she said.

The opposition has alleged the raids being conducted today are on a random few and is probably shielding many others whose names if revealed can bring embarrassment to the government.

"The BJP understands the complexity of this issue which requires well designed, multilayered strategies -- including legislative- to effectively handle it," Sitharaman said.

Asked about the government stand that the names of black money holders cannot be revealed as the matter is sub-judice, the BJP maintained making their identities public would not affect the case.