Jairam Ramesh (‘How real are the figures on black money abroad?’, April 22) is correct in asking what the BJP did when it was in power to unearth Indian black money that was salted away in Swiss banks. Apart from bringing up the issue of the Bofors payoffs and the Ottavio Quattrocchi money, the BJP’s record is quite dismal. Moreover, as Ramesh has pointed out, trade and other policy reforms over the years, have reduced the incentive to hold money abroad. Apart from the black money schemes, like the VDIS, which helped unearth tens of thousands of crore of black money, the economic boom in India has resulted in money coming back as well — why would any businessman want to keep his money without earning any interest in Swiss banks when the same money can earn 10-15 per cent interest in India. The only people who wish to keep their money in Swiss accounts now are probably politicians!
Sarla Sardana, Gurgaon