Rahul Gandhi reminds Modi of his 2014 promise as Indians' deposit in Swiss bank jumps

Congress president Rahul Gandhi on Friday reminded Prime Minister Narendra Modi of his 2014 promise about bringing back black money as Indians’ deposit in Swiss bank increased by 50 per cent.

Gandhi said that Modi had promised to put 15 lakhs in the bank accounts of every Indian by bringing back all the black money. He said that Modi’s demonetisation cure for black money also failed as Indians money in Swiss banks jumped by 50 per cent.

“2014, HE said: I will bring back all the “BLACK” money in Swiss Banks & put 15 Lakhs in each Indian bank A/C. 2016, HE said: Demonetisation will cure India of “BLACK” money. 2018, HE says: 50% jump in Swiss Bank deposits by Indians, is “WHITE” money. No “BLACK” in Swiss Banks!” the Gandhi scion tweeted.

The prime minister, during his election campaign in 2014, had promised to bring back all the black money in just 100 days. He even went on to say that every Indian could get Rs 15 lakh by bringing the tax evaded money back to the country.

Although Modi never looked delivering on his promise to bring back the black money in 100 days, he gave people hope that his demonetisation move will help the country get away from its deep-rooted the black money problem.

However, the entire demonetisation exercise failed after the money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion (Rs 7,000 crore) in 2017.

The surge in Indians money brought the government on the back foot as the BJP had fought the 2014 general elections on the issues of corruption and black money. The surge also took the country by surprise, given the Modi government’s big claims to clampdown on the black money stashed in Switzerland.