Congress and BJP spar over 50% rise in Indian money in Swiss banks

Money parked by Indians in Swiss banks rose 50% to Rs 70 billion in 2017, reversing a 3-year downward trend amid India's clampdown on suspected black money stashed there

The ruling Bharatiya Janata Party (BJP) and Congress have pointed fingers at each other on Friday over 50 per cent rise in money parked by Indians in Swiss banks.
 
Citing media reports, finance minister Piyush Goyal said 40 per cent of the money is because of liberalised remittance scheme (LRS), which was introduced by the then finance minister P Chidambaram.
 
According to the liberalised LRS, an individual could remit up to $2,50,000 per year, he added.
 
“We will have all information if someone is found guilty, (and) the government will take strong action against the culprits,” Goyal