New Delhi: In a bid to clean its image, the UPA government, as a part of its five-fold strategy to deal with the black money issue has authorized a Group of Ministers (GoM), which would deal with corruption.

Presenting the Union Budget, Finance Minister Pranab Mukherjee stressed on dealing with two issues – corruption and black money issue- which have become boiling points for the entire nation. Concerned over sagging image of the government, Mukherjee during his budget speech, stressed on dealing with corruption and black money.
The GoM would mull over stopping money-muscle power in the elections, taking swift action against corrupt bureaucrats, bringing transparency in contracts awarded by the government, discretionary power of ministers and taping natural sources.

Voicing his concerns over black money, Mukherjee stated that there would be a comprehensive campaign against black money and indicated narcotics laws should be made more effective. He stressed that smuggling of drugs was a part of black money.

“India wants to join the international community in waging a war against black money. For this the government is focusing on Tax Information Exchange Agreement (TIEA) and Double Taxation Agreement,” he said. 

The international wing of the Central Direct Tax Board and Anti-Money Laundering Act are being strengthened. The government seems to be serious on taxing black money and bringing back money stashed away in Switzerland and other tax havens to the country.