Finance Minister Piyush Goyal said, “The Swiss bank gave the information, 34.5% reduction in deposits of Indians”.

New Delhi, Between politics and allegations against black money, the central government has said the new figure on the money collected by the Swiss bank. Answering a question in the Rajya Sabha, Finance Minister Piyush Goyal said that according to the Swiss bank, loans and deposits of Indians have decreased by 34.5% compared to last year. Piyush Goyal said that the NDA regime has reduced 80% of Indians’ money in Swiss banks from 2013 to 2017.

Let us tell you that a report issued by the Swiss National Bank (SNB) last day gave the opposition an opportunity to attack the Modi government. The report said that Indians’ wealth has increased by 50 percent in Swiss banks. Citing the same report, Indian National Lok Dal (INLD) MP Ram Kumar Kashyap asked the question in the Rajya Sabha. He asked the Modi government how despite the claims of action increased the deposit of Indians in Swiss banks.

Dear @RahulGandhi, you JUMP WITH JOY at every false news that puts India in bad light.
Now the truth is out – there has been 80% reduction in 4 years in Swiss bank deposits & 34% in last 1 year alone.
Why couldn't you crackdown on black money since 2004?https://t.co/GczXl0P8ux

— Piyush Goyal (@PiyushGoyal) July 24, 2018

New figure
Finance Minister Piyush Goyal, who stood for answering the government, dismissed it as untrue news. Piyush Goyal said that the Swiss bank sent a reply in this regard, saying that the figures issued by the bank were not properly interpreted. Because of this the confusion arose.

According to the Swiss bank, non-deposit liabilities in India, Swiss banks in India, things like interbank transactions and trustee liabilities were also included in the growing money of Indians. The Swiss envoy has said in a letter to Piyush Goyal that it is generally assumed that money of any Indian deposited in Switzerland is black money. Piyush Goyal said that the Swiss Bank has prepared data together with the Bank for International Settlement.

Giving this information, the Finance Minister said that compared to last year Swiss banks have reduced the overall loan and deposits of Indians by 34.5%. The INLD MP then asked the government, in which the news of the increase of 50 percent of the deposit was made, then finance minister Arun jaitley wrote a blog saying that the money deposited in Swiss bank is not black money. He asked the government to tell us how much black money is there from.

Swiss bank gives more than 4000 details: Goyal
On this, Piyush Goyal said that the previous UPA government had made a treaty with the Swiss bank in 2011. According to this, the Swiss bank had to share information with India. Goyal claimed that many important information was not given by the Swiss bank during that time. The Finance Minister said that more than 4000 inquiries have been sought from the Swiss bank after the Modi government came in 2014. The Finance Minister claimed that action is being taken on the basis of these inquiries.

On 21 December 2017 India has made another agreement with the Swiss bank. According to this, from January 1, 2018, the two countries will collect data according to the Global Standards. This data exchange will be launched on an annual basis from September 2019.