Modi flags steps taken to check black money

Prime Minister Narendra Modi on Friday said his government had taken quick steps to bring back black money stashed abroad and check its generation in the country.

"Though the previous (UPA) government did not act for three years, we formed the SIT (Special Investigation Team) a day after assuming office in May last year to recover black money from abroad as directed by the Supreme Court," Modi said at a mammoth public meeting here.

Claiming that India received full support in the G20 summit at Brisbane (Australia) in tackling the black money menace, Modi said the 2015-16 union budget had listed the new measures being taken to prevent creating unaccounted money in future.

"Till union Finance Minister Arun Jaitely read out the new measures taken to put an end to creation of black money, we were mocked at by the opposition parties and assumed that we won't do anything about it," he said.

Listing out some of the achievements of his 10-month-old government, Modi said besides restoring confidence of the people in the economy, reviving growth and attracting investments, the recent e-auctions held for selling coal blocks and spectrum (airwaves) had generated over Rs. Rs.200,000 crore and Rs.109,874 crore respectively.

"The transparent e-auctions confirmed the massive losses exchequer suffered and as reported by the CAG (Comptroller and Auditor General) when the previous government allotted or sold the national assets indiscriminately," Modi said.

He also hailed the railway budget presented by Suresh Prabhu on February 26 and termed it as revolutionary and visionary.

"After many years, we have a rail budget that is ambitious, progressive and focused to serve the common man and transport goods for all," he said.