PM Modi secret plan for bringing back Foreign Black Money

Mumbai Oct 29: Nowadays many people feel that Prime Minister Modi has given up his promises of bringing back the black money which has been stashed away and deposit Rs 15 lakh in each account and they feel that Demonetisation has not yet revealed great results.

However, there are some reports that Prime Minister is working on this issue and experts have submitted reports on how to bring back the black money stashed abroad.

The various methods suggested by experts are

German method: Earlier Germany government have secretly bribed the officials of foreign banks where the German citizens stored illicit wealth and have bought the details and the money was brought back.

American method: Under this method, American Government has threatened the foreign bank officials, so they disclosed the details.

UN Convention method: Under this method, India has signed a convention on a treaty in 2005.Under This, if a country parliment passes a law stating all the accounts owned by the Indians are nationalized then United nations helps and advises the banks present in 70 countries to declare the details in which Indians have accounts and money would be brought back.

Experts have suggested that UN way would be suitable for India and It would take 3 -5 months time and PM Modi is working on it and the officials are currently drafting an ordinance and the cabinet may soon approve.

Sources say that nearly $ 1 trillion of black money has been stashed away by Indians.