Black money debate in Parliament: As it happened on Wednesday

A day after the Opposition disrupted the proceedings of Parliament on the first working day of the Winter Session over the issue of black money, the issue has been taken up for a detailed discussion in both the Houses on Wednesday.

Black money debate in Parliament: As it happened on Wednesday

New Delhi: Facing all round attack on its promise of quickly bringing back black money stashed abroad, government on Wednesday said it will proactively chase the offenders and promised not to rest till the last account is identified. Finance Minister Arun Jaitley disclosed in Rajya Sabha that 250 account holders out of a list of 627 names provided by HSBC, Geneva, have admitted to having accounts but the almost the entire opposition walked out saying they were "disappointed" with his reply to the debate on the issue.

Here are the updates as they happened:

  • CPI and Samajwadi Party stage walkout from the House over black money.
  • The NDA govt has done more in 100 days than what any other govt did in the past - Jaitley on black money.
  • We are completely committed and sincere in identifying every account holder, says Jaitley on black money.
  • SIT on black money has made its first report to the Supreme Court. It will make second report before 30 November - Jaitley.
  • "We are on a learning curve," says Jaitley. To the Opposition he says, "Opposition is suggesting a suicidal course on black money."
  • We have 92 DTAA treaties, out of which 91 have confidentiality clause. Every treaty that we have entered into has a confidentiality clause except one treaty with Romania - Jaitley.
  • TMC also stages walkout from the Rajya Sabha.
  • Congress walks out from Parliament. Congress leader Anand Sharma says that they are not satisfied with reply of the Finance Minister.
  • Populism is not a response to black money. If we follow adventurous course, it will be a one-day thrill. But then other countries will not cooperate with us - Jaitley.
  • "250 account holders have admitted having accounts abroad," says Finance Minister.
  • We have made the disclosure of names to the SC and SIT.The names will become public, but getting evidence from other countries is complex - Finance Minister.
  • In the case of black money, the money is Indian. However the evidence is global and collecting such evidence will take time - Jaitley.
  • Uproar in the Upper Hosue in the middle of Finance Minister's speech.
  • Out of 627 HSBC cases, we were able to trace out around 427 cases. The issue is not whether to disclose names in the black money list, it is when to disclose them - Finance Minister.
  • Countries are now agreeing on automatic exchange of information on all transactions. Automatic exchange of information is going to be the next step in the global black money probe - Jaitley.
  • Switzerland entered into an agreement with India after 2011 for exchange of information - Jaitley.
  • Crime money is the first way in which black money is created. People have now started cooperating on providing information on black money created through tax evasion - Finance Minister.
  • "I'm going to try to refrain myself from UPA vs NDA debate," says Jaitley.
  • "Our first decision was to constitute SIT on black money," says Jaitley, adding, "In June, we handed over whatever details we had in black money case to the two judges heading the SIT."
  • "Supreme Court had said that black money is making the country's economy hollow. We are today working under the directions of the Supreme Court. When the NDA met for the first time, our first decision was to accept SC's decisions on black money", says the Finance Minister.
  • "UPA government, when in power, was going against SC orders on black money," says Jaitley.
  • "For the last 10 to 15 years, our capacity to connect with the issue of black money is rising", says Jaitley.
  • "Very grateful to Anand Sharma who debated on many aspects of black money", says Jaitley, adding, "Good to see that everyone wants to see work done on black money."
  • Union Finance Minister speaking in Rajya Sabha on black money.
  • Moily concludes his speech.
  • Rhetoric will not help, if the govt fails to make progress on the issue, it will fail the whole nation: Moily  
  • The BJP govt should take them forward, but it has moved 100 steps backwards: Moily
  • UPA govt has taken a number of measures when it was in power: Moily
  • Fight against black money is a complicated one: Moily
  • BJP govt has failed on all accounts: Moily
  • The apex court made scathing remarks on the intentions of the BJP govt over the issue: Moily
  • Eve the SC has slammed and questioned the BJP govt's action on black money: Moily
  • We need to stand united to tackle to this problem: Moily
  • Black money is a national issue which needs attention: Moily
  • Today we are holding an important debate but the mannerism in which it is being held is not correct: Moily
  • Congress' Veerappa Moily takes charge of the black money debate
  • Sena MP urges House to give some time to the NDA govt to deliver on its promise
  • Sriranga Sarne of Shiv Sena assures House that govt is committed to bring back black money
  • Do not challenge the credibility and honesty of Mamata Banerjee: Sudip Bandyopadhyay
  • We appeal to the govt not to dilute its their promise, all parties will support it: TMC MP  
  • PM Modi misled Parliament, people of India on black money: TMC MP
  • “TMP MPs held protest on the issue both inside and outside Parliament holding black umbrellas”
  • PM Modi must apologise at the floor of the House for failing to bring back black money: TMC
  • PM Modi has become an NRI PM: TMC MP
  • Now more than 100 days have been passed and no progress has been made: TMC MP
  • TMC extended its full support to the Modi govt in its effort to bring back black money:  Bandopadyaya
  • Sudip Bandopadyaya of TMC leads the black money debate  
  • Want to ask in what time will the Modi govt bring back the black money: Babu  
  • Tax heavens were deliberately set by the colonial nations: Babu
  • If utilised properly, it can help in fighting poverty and other social evils in the country: Babu   
  • Black money is a waste money: Babu
  • AIADMK MP slams NDA govt, asks it to keep its promise on black money
  • Venkatesh Babu of AIADMK continues the debate on black money
  • When you were in power you were saving those who have stashed black money abroad and even now when you are in Opposition you are saving them: Thakur
  • When you were in power, you did nothing to bring back black money:Thakur
  • We have formed the SIT on the first day of our govt: Thakur
  • My govt is not misleading the nation on black money: Thakur
  • BJP's Anurag Thakur raises the issue of Saradha scam in Lok Sabha, hits out at TMC.
  • Apologise to the nation if you can't bring back black money: Sharma
  • Black money was not an issue to play partisan politics, false promises, false hope: Sharma
  • Finance Minister should give an answer to the nation on the issue: Sharma
  • The government should be very careful on its words: Sharma
  • Earlier PM Modi knew everything and he now claims that he does not know anything on the black money, says Sharma
  • PM Modi sold lies to people as he did not fulfill his promises on black money: Sharma
  • Even god would come on earth to question PM Modi over the promises he has made to people: Sharma"
  • PM also claimed that Rs 15 lakh will be deposited in the account of every citizen if the black money is brought back, says Sharma
  • PM Narendra Modi had claimed that Rs 85 lakh crore in foreign banks as black money: Sharma
  • Modi had said ahead of elections that his govt would bring back black money worth approximately 5 times the country's budget - Anand Sharma
  • India was misled into believing that a change of regime will bring a magical turnaround - Anand Sharma
  • The objective of BJP was to malign the UPA government - Anand Sharma
  • The UPA government had taken action to bring back black money - Anand Sharma
  • Govt should obtain data on foreign accounts and act on that information - Anand Sharma
  • Cases of tax violation have to be dealt with appropriately - Anand Sharma
  • There are 40 to 50 countries that are tax havens in the world. Switzerland is one of the most well-known tax havens; a lot of money is stashed there - Anand Sharma
  • BJP had earlier accused Congress of not taking action on black money, says Anand Sharma in Rajya Sabha
  • We are ready to discuss black money in both houses, (but) they are determined to create ‘hungama’, says Union minister Venkaiah Naidu
  • We demand the government to reveal the name of black money holders, says Kharge
  • Government said there were 50 names but didn't reveal them - Kharge
  • PM should inform how many countries he is in talks with to bring back black money - Kharge
  • Govt failed in fulfilling it's 100 days promise of bringing back black money, says Congress leader Mallikarjun Kharge​
  • Discussion in Lok Sabha resumes 
  • Lok Sabha likely to discuss the issue of black money at 3 pm.
  • Lok Sabha is adjourned till 2:30 pm.


Also Read: Lok Sabha passes bill to amend CBI chief's selection process

  • DSPE Act revises procedures for CBI director's appointment.
  • Lok Sabha passes Delhi Special Police Establishment Act Amendment Bill by voice vote
  • Lok Sabha adopts the motion for consideration of the DSPE (amendment) Bill 2014.
  • RS adjourned till 1 pm following ruckus by Congress MPs.

Also Read: Ruckus in Rajya Sabha over renaming of Hyderabad airport

  • Rajya Sabha adjourned again as ruckus by Congress continue over renaming of Hyderabad airport
  • LS Speaker warns TMC MPs against repeating yesterday's umbrella protest in the House.
  • Opposition MPs stage a walkout in LS as Speaker decides to hold discussion on black money at 3 pm.
  • TMC, Congress, SP MPs stage a walkout in Lok Sabha over black money issue
  • Rajya Sabha adjourned for about 30 minutes due to protests by Congress during Question Hour
  • Uproar in Rajya Sabha Rajya Sabha over renaming of Hyderabad airport
  • RS likely to hold short discussion on black money issue after 1 pm
  • Lok Sabha Speaker allows black money discussion but no voting on it
  • LS Speaker Sumitra Mahajan rejects demand for suspension of Question Hour
  • BJP govt has started process to bring back black money: Pal
  • Congress should ask itself why it did nothing for last 10 years: Jagdambika Pal, BJP
  • Debate on black money can be held during Question Hour under Rule 193, say sources.
  • We have given notice for adjournment motion, if Govt is ready for immediate discussion we are also ready: Kharge
  • Congress CLP leader Mallikarjun Kharge says party is ready for immediate discussion.
  • Congress gives notice for adjournment motion on black money issue.
  • Jay Panda of BJD says, “Govt has expressed they are ready for discussion over black money issue, now it should be listed & discussed in detail in Parliament.
  • “We are determined for a positive functioning of Parliament, we are ready for discussion over any issue,” says MA Naqvi, MoS, Parliamentary Affairs
  • Tariq Anwar of NCP says, “NDA govt had promised to get black money in 100 days, they must tell the nation what is the progress made on the issue.”


Mamata Banerjee's Trinamool Congress (TMC) on Tuesday raised the issue of black money and held protests both inside and outside Parliament holding black umbrellas. The TMC, backed by the Janata Dal (U), also moved a motion calling for the suspension of Question Hour and seeking a debate in the Rajya Sabha on the issue.

A united Opposition alleged that the Narendra Modi government has not fulfilled its poll promise to bring back black money in 100 days.

"100 days are over, where is the black money?" chanted members of TMC, Congress, RJD, Samajwadi Party and AAP, who stormed the Well of the Lok Sabha, minutes after it assembled for the day.

The Rajya Sabha also saw uproarious scenes over the issue, with members from JDU, SP and TMC on their feet when the House assembled for the day. They kept shouting slogans and waving papers attacking the government on the black money issue.

While Finance Minister Arun Jaitley gave the assurance in Rajya Sabha, Parliamentary Affairs Minister M Venkaiah Naidu gave the promise in Lok Sabha.

TMC leader Derek O'Brien raised the issue in Rajya Sabha after lunch saying, "The Government has made some assurances outside the House on bringing back black money. But no black money has come...There was a lot of hope on this issue, but the government is not delivering. There has to be some structured discussion on this issue. This is not about one or two political parties but all the parties."

Responding to this, Jaitley said the member raised an important issue and the government is "too willing to discuss the issue" whenever the parties want in consultation with the Chairman.

Naidu said the government had nothing to hide and was ready to discuss the issue. He said the government has done a lot in the last six months on the black money issue.

Besides, the Delhi Special Police Establishment Bill (Amendment) is expected to be cleared in Lok Sabha today. Other important Bills for consideration and passage include The Insurance Laws Amendment Bill, The Real Estate Regulation and Development Bill and the Anti-Hijacking Bill.

(With inputs from PTI)