Modi Warns On Black Money

Just a day after the GST launch, PM Modi spoke at the Institute of Chartered Accountants of India event and made some interesting revelations on how his government is hell bent on wiping out black money from the face of India.

PM Modi referred CAs as the most important pillars in Indian Economy and that their signature is more important than his.

He appealed them to give importance to the Nation first instead of feeling proud in saving tax of their clients through loopholes in laws.

Interestingly, after PM's crack down on black money, the deposits in Swiss bank have come to a decline. He said it is time for the rich to return the stolen money from poor.

Modiji asked how come there are only 32 lakh tax payers in the country who declare annual income of more than 10 lakhs when there are 8 lakh doctors and 2 crore engineering and management graduates.

Narendra Modi promised that his government will continue the attacks on black money and said that they have cancelled the registrations of one lakh bogus companies in the past two days and about more than 35000 shell companies are under scanner for funding black money.