Not all money abroad is black money – FM

Union Finance Minister Pranab Mukherjee on Sunday said all the money kept by Indians abroad is not black money and noted that India has signed treaties with 37 countries to know the details of such illegal wealth.

“Not all money kept abroad is black money … It might have been deposited by businessmen or business houses. The process will take time to know the exact amount,” he told a meeting of Congress workers in Khargram.

His comments come amidst demands by yoga guru Baba Ramdev asking the government to take steps to bring back black money stashed abroad. In his campaign against black money, he has been meeting leaders of various political party leaders.