Press Releases Archive

Lok Satta Party President Dr. Jayaprakash Narayan said today that the Government of India should vigorously pursue all avenues to ferret out black money stashed abroad by Indians.

Pledging his support to Baba Ramdev’s demand for recovering the illegal money secreted in foreign accounts, Dr. JP said that the Government of India should not delay the process further, now that it has become a signatory to the UN Convention against corruption.

According to one reliable estimate, Indians have parked about $463 billion, equivalent to about Rs.20 lakh crore, in offshore accounts.

The Government of India could emulate methods adopted by countries like the U. S., which have succeeded in unearthing Americans’ undisclosed offshore bank accounts and made them pay punitive taxes.

Dr. JP said that corruption could be curbed only if laws ensure sure and swift punishment of the guilty with rigorous long-term imprisonment and confiscation of their entire, not merely ill gotten, property.

Pointing out that real estate transactions are one of the primary sources for black money generation, Dr. JP suggested that the Government rationalize stamp duty to dissuade people from under-valuing property to minimize tax incidence. The Government should also utilize the legal provisions under which it can acquire property at the undervalued price.

Institution of a powerful and independent Lok Pal is necessary but not sufficient, said Dr. JP and added that the war against corruption has to be waged on many fronts.

Dr. JP underlined the need for electoral reforms to facilitate the best and the brightest to get elected to office without having to splurge money. Otherwise, politics continues to breed corruption. Decentralization of power and empowerment of people are essential to ensure that people understand the link between taxes and services, and authority and accountability, Dr. JP said.

Dr. JP will be taking part in a program in support of Baba Ramdev’s fast at Gymkhana Grounds in Secunderabad on June 4 at 9-30 a.m. Giving this information, Lok Satta Party State General Secretary Katari Srinivasa Rao appealed to Lok Satta cadre and all people committed to fighting corruption to take part in the program.

The Lok Satta Party today extended its in-principle support to Baba Ramdev’s fast against corruption in New Delhi from June 4, 2011.

In a media statement, Lok Satta Party Working President D. V. V. S. Varma recalled that the Lok Satta, which has been waging a relentless and multi-pronged war against corruption, backs all agitations against corruption.

Baba Ramdev, however, should have attempted to accomplish his objective by entering into talks with the Government, which has come forward to constitute a Lok Pal to combat corruption. Since both ruling and opposition parties are committed to creating an independent and powerful Lok Pal, differences, if any, should be resolved through dialogue, Mr. Varma added.

Issues like bringing the Prime Minister and the higher judiciary under the Lok Pal purview and recovering the black money stashed abroad should be sorted out through discussions, Mr. Varma added.

The Lok Satta Working President underlined the need for constitution of a strong and independent Ombudsman at the State level too as part of Central legislation on the lines of the Right to Information Act.

Mr. Varma said that corruption elimination called for electoral reforms and decentralization of administration to empower people.

The Assembly session, being convened to elect the Speaker, should be extended to discuss the crisis in the agriculture sector, demanded Mr. Varma.