PM Modi should have avoided Switzerland visit, says Prof Vaidyanathan
Bengaluru, June 6: With Prime Minister Narendra Modi arriving in Switzerland, there is talk that he may bring up the issue of black money.
Although the main agenda is bi-lateral and mutual cooperation apart from seeking support for India's membership to the Nuclear Supplier's Group, there has been talk that the issue of black money too may be raised.
However, the experts feel that this will not help as the Swiss will not budge. R Vaidyanathan, Professor of Finance at the Indian Institute of Management, Bangalore says that ideally Modi should not have gone to Switzerland and now that he has the issue of black money should not be raised as it will not help.
Catch the peacock and take the feather:
Prof Vaidyanathan tells OneIndia that he personally feels that Modi should not have gone to Switzerland. However now that he is there, the issue of black money should not be raised as it will not help. They still feel that tax evasion is not a crime.
However, it is India's case that this is an issue that does not concern tax evasion alone, but the money parked there also has been raised through corruption. I feel that the Swiss need to be arm twisted as discussions in this regard will not help at all, Prof Vaidyanathan also points out.
He also says that there is a procedure that needs to be followed and if it is done there is hope of bringing back the black money.
First India would need to file an FIR against unknown entities who have illegal money in Switzerland. Then a resolution must be passed declaring that the money belongs to the government of India.
This would need to be approved by the President of India. We then need to take this resolution up to the Swiss and tell them that the money belongs to the government of India.