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No ‘knee-jerk reaction’ on black money issue, says Jaitley


New Delhi: Union Finance Minister Arun Jaitley on Monday said that Prime Minister Narendra Modi-led NDA Government at the Centre would not take a knee jerk reaction in connection with the black money issue.

“It is too early to say what route the government would take but the Government would certainly not take a knee jerk reaction particularly that will adversely impact the nation’s investment climate,” Jaitley told the media here.

The Special Investigation Team (SIT) on black money had last week asked the Securities Exchange Board of India (SEBI) to identify the real owners of foreign funds coming through the Participatory-Note route and also prosecute those using equities for tax evasion.

In its third report on steps required to check the black money menace, the SIT reportedly said it is not enough for the regulator to ban individuals and companies from stock markets. (ANI)

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