*After Day1 in Office, cabinet announces formation of SIT on black money issue in accordance to the orders by Supreme Court
*This proposal (SIT on black money) comprises very high profile officials as well- RS Prasad
* Narendra Modi's government forms SIT on black money headed by Justice MB Shah.
*A SIT has been formed for unearthing black money, Justice MB Shah will be chairman of SIT
First cabinet meeting ends,ministers leave pic.twitter.com/Am3oLOuzw9
— ANI (@ANI_news) May 27, 2014
Staying true to BJP manifesto, Narendra Modi led government took a major decision on probing black money cases. A committee has been formed under Justice MB Shah to head the probing and the decision was announced after a Cabinet meeting on Tuesday.
Talking about the committee, Telecom Minister Ravi Shankar Prasad spoke to media and said, "This proposal on SIT formation on black money comprises very high profile officials as well."
Justice MB Shah will be the chairman of the newly constituted SIT commitee. This was BJP's first Cabinet meeting and the decision was taken keeping in view the party manifesto. RBI Dy Governor R Gandhi, CBDT chairman RK Tewari, Revenue Secretary, CBI director Ranjit Sinha and IB Directors to be part of SIT on black money.
Referring to the black money issue, the BJP document and manifesto had said that its government will initiate process of tracking down and bringing back the black money stashed in foreign banks and offshore accounts. The government after coming into power has fulfilled its promise.
"We will set up a task force for this purpose and to recommend amendments to existing laws or enact new laws. The process of bringing back blackmoney to India will be put in motion on priority. We will also proactively engage with foreign governments to facilitate information sharing on blackmoney" the document had stated.
Baba Ramdev had put up a video earlier in the day giving hints about the possibilty of this announcement. Ramdev is known to be close confidante of BJP leaders.
Watch the video below:
Great to hear that, in the first cabinet meeting, @narendramodi and his team, decided to form a SIT to investigate black money
— Swami Ramdev (@yogrishiramdev) May 27, 2014