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India expects 'string statements on black money issue' during Cannes G20 summit.

Cannes, Nov 3(ANI): India expects strong action on the black money issue by the Group of Twenty (G20) nations during their deliberations at the November 3-4 summit in Cannes, France, the Deputy Chairman of Planning Commission, Montek Singh Ahluwalia has said.

"On issues of try and get hold and prevent illegal wealth, trying to control tax havens these have been on the agenda of G20 from last two years and we expect string statements on the issue during the summit," Ahluwalia told Asian News International (ANI).

As per reports, an estimated amount of 500 billion dollars to 1.4 trillion dollars of unaccounted money has been deposited secretly in overseas banks by wealthy Indians and corporate bodies.

Earlier in February 2011, legal notices had been served to 17 persons in connection with foreign bank holdings, but international agreements and legal hurdles had barred the government from revealing their identities. y Naveen Kapoor (ANI)

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Publication:Asian News International
Geographic Code:4EUFR
Date:Nov 3, 2011
Words:171
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