PM to make statement on black money in Parliament

Prime Minister Manmohan Singh may make a statement in Parliament early next week on the steps taken by the government to bring back black money stashed away in tax havens by Indians.

This comes against the backdrop of the Opposition parties planning to take up the issue of black money in Parliament in the Monsoon Session beginning on Monday.

"The Prime Minister may make a statement in Parliament on black money issue," official sources said.

In April the central government had set up a high-level committee, headed by the revenue secretary, to probe the issue of black money parked in foreign tax havens.

In early July, the apex court converted this probe panel into a special investigation team (SIT) headed by two former apex court judges, Justices BP Jeevan Reddy and MB Shah.

The government filed a review petition contending that its order impinged on the executive's domain and the court should have exercised "judicial self-restraint."

At a meeting of chief whips this week, political leaders had demanded discussion in Parliament on the issue of judicial activism.

Earlier this week, Finance Minister Pranab Mukherjee had said all possible steps were being taken to bring back black money stashed away overseas by Indians and negotiations were on in this regard with as many as 97 countries.