Do not dare to blackmail on black money: Congress tells Jaitley

The Congress launched a scathing attack on the Bharatiya Janata Party (BJP)-led central government on Wednesday following finance minister Arun Jaitley's remarks that disclosure of names of those holding illicit foreign accounts will embarrass the Congress more than ever. As per media reports, Congress on Wednesday warned Jaitley not dare to blackmail them on  black money issue.

"Don't blackmail the Congress, we will not succumb to any pressure," said Congress spokesperson Ajay Maken. "Congress party is above individuals. Stricter possible action should be taken against whoever is involved in it but that should not be inspired by vindictiveness and it should also not be half truth," AICC communication department chairman Maken is quoted by media as saying.

Speaking exclusively to NDTV, Jaitley on Tuesday said that Centre has never said that it will not reveal the names of Indians who have undeclared income parked in foreign bank accounts. "The Congress will be embarrassed by the names when we reveal them in court," Finance Minister said.

Jaitley added, "Once we inform the court, the names will automatically come out in public.”  Jaitley's reaction came after Congress recently took a jibe at Centre by saying that BJP-led NDA (which attacked the previous UPA Government accusing them of not disclosing the name of Indian black money account holders), now not being able to disclose the names in spite being in power.

On Wednesday Congress shot back at BJP. Maken said, Congress was ready for an investigation. "We want the complete truth...Avoid selective leakage of names," he said.

He demanded to know why the BJP had not kept its poll promise of "bringing back black money within 100 days" of assuming power. Prime Minister Narendra Modi, he said, "had promised then that each citizen will get Rs. 15 lakh if black money is brought back. I want that 15 lakh to reflect in my bank account," Maken said.

The war of words erupted following Centre's reply in Supreme Court relating to black-money issue. Last week, Government told the top court that Centre cannot yet publicly disclose a list handed over by Germany in 2009 of Indians with accounts in the tax haven of Lichtenstein. The Centre told the top court that tax treaties forbid the disclosure of names till charges is framed in court.

Jaitley stressed that the tax treaties that compel confidentiality at this stage of investigation were signed by the Congress government in 1995. The Supreme Court has set up a special team to work out how to recover black money.  The case was brought to the top court by noted lawyer Ram Jethmalani in 2009. He also accused Congress-led previous Government’s treaty that is causing the hindrance.