India speaks about fight against black money at G-20

NEW DELHI: The government of India raised a voice at the G-20 for a global framework, after publicising a decree to act against economic fugitives, on the issue of fighting against black money and to make the economic offenders stand in front of the law.

Shaktikanta Das, India's G-20 sherpa, tossed this issue as part of the fight against corruption, terror funding and black money. From 2014, starting with the Brisbane meeting, Prime Minister Modi raised a voice against corruption and black money and how to fight it. More economic offenders are found fleeing and taking refugee in other countries.

The Fugitive Economic Offenders Bill gives the government the power to attach the properties of those who escaped the country. At the time when the bill was cleared Arun Jaitley, the finance minister, spoke about the need for international cooperation and also said it would be achieved in due time.
Das raised the issue and asked for international cooperation for the economic offenders to return to the country and said it would take much effort because many countries give shelter to the fugitives and have a liberal outlook.

The process of bringing them back to the country is often difficult and time consuming though their passports have been revoked by the government. “We need more discussion on the issue before some concrete steps are taken,” said an official, who chose to remain anonymous.

It is found that the United Kingdom has become a safe place to this alleged offenders which is also an important member of G-20. The need to data sharing has become an useful tool to look over the bank transactions.