Modi Takes Up Black Money Issue With Brics Leaders
In an informal meeting with the BRICS leaders prior to the G20 Summit, PM Narendra Modi took up the issue of ‘black money’. He stressed that the repatriation of the unaccounted black money stashed away in foreign banks is a priority for India.
MODI TAKES UP BLACK MONEY ISSUE WITH BRICS LEADERS
Modi said that such black money could also lead to security challenges. The ‘black money’ issue is likely to be taken up for discussion at the G20 Summit.
India might urge the G20 to pressure the tax havens into giving more details on the black money from India so that retrieving this money becomes easier.
Apart from Modi, the other leaders who were a part of this informal discussion included Russian President Vladimir Putin, Chinese President Xi Jinping, Brazilian President Dilma Rousseff and South African President Jacob Zuma.
The BRICS countries have set 2016 as the target for the inauguration of the BRICS bank and hope to sanction an agreement regarding this by next year.
The G20 Summit which begins today will see discussion on issues such as climate change, black money and slowing global economy.