National

Govt "promoting" Black Money with Relaunch of KVP: Congress

New Delhi, Nov 20: Upping the ante over black money issue ahead of the Winter Session of Parliament, the Congress on Thursday accused the NDA Government of failing on its promise to bring back the illegal wealth and questioned its recent decision to reintroduce the saving certificates scheme.

"Government came to power with various promises including one about bringing back black money. It is sad that the government, which talked of bringing back black money is rather promoting black money," AICC General Secretary Ajay Maken said.

With the objective to raise savings in the country, the government relaunched Kisan Vikas Patra (KVP), an instrument which aims to provide trusted option of investment to poor and keep them off ponzi schemes.

Citing a report of the Shyamala Gopinath Committee on Small Savings Schemes and their Public Policy Objectives, he said the panel had recommended that KVP should be discontinued in view of the risks of money laundering and financial terrorism.

While the Narendra Modi-led government talked of bringing back black money and acting tough against corruption, they have re-introduced the (KVP) scheme, which was fraught with the risk of money laundering and financial terrorism. It was done away with because there was apprehension that it could promote black money.

"I want to know from Finance Minister Arun Jaitley as to why they reintroduced this scheme, which was abolished as per the committee's recommendation. Did they earlier only do lip serving by talking about bringing back black money?" he asked.

Seeking to put NDA government on the defencive ahead of the Winter Session, Congress will soon come out with its second booklet projecting it as a government of "U-turns".

A senior party leader said a compilation of contradictions between the promises made by BJP to people before elections and what actions it took since it came to office six months ago will be released soon.

Congress has been consistent in attacking the Prime Minister over his alleged "u-turns" on issues such as black money and national security.

-PTI

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