Black money abroad

[wendy]

The Indian govt. recently announced its plan to begin talks with Swiss officials, to deal with black money stashed abroad.
So, what does the govt. really want to do - actually recover the loot, or sound a not-so-subtle warning to key stakeholders and other offenders to withdraw the money before they get caught??

[Nikhil Acharya]

I think the Indian Govt. is following in the footsteps of the US, which undertook a major crackdown on tax havens such as Swiss bank a/cs and the Cayman islands.

Incidentally, the Swiss gave up the confidential account info to the Americans, while refusing to co-operate with the Indian Govt!