New Delhi. In the Lok Sabha Elections 2014 (Loksabha Elections 2014), Narendra Modi (Narendra Modi) came to power at the center by promising to deposit Rs 15 lakh in the account of every Indian by bringing black money from Swiss banks, but in 2024, the figure has released the figure in 2024. That reality is shocking. In Swiss banks, Indians’ money has increased three times to Rs 37,600 crore. Now through these figures, the Congress party said that what happened to the promises of PM Modi? Why did his claim prove to be air-air?
According to the latest report of Swiss National Bank (SNB), the money of Indians in Swiss banks in 2024 has increased more than three times to 3.5 billion Swiss francs i.e. about Rs 37,600 crore. This figure is more than the 1.22 billion Swiss francs i.e. around Rs 12,000 crore in 2014. This revelation has raised serious questions on the promises of Prime Minister Modi, with which he came to power. The Congress has attacked PM Modi’s promises and attacked, ‘India’s money in Swiss Banks has increased three times to Rs 37,600 crore. Narendi Modi (Narendra Modi) said in 2014, I will bring black money deposited in foreign banks, I will give Rs 15 lakh to everyone. Neither black money came, nor got 15-15 lakhs.
During the 2014 election campaign, Narendra Modi (Narendra Modi) made the black money of Indians deposited in Swiss banks a major issue. He had claimed that the black money deposited in foreign banks is so much that if it is brought back, then 15 lakh rupees can be deposited in every Indian account. At a rally, Modi had said, ‘Swiss banks have so much black money that if we bring it back then the poverty of the country can be eradicated. He also promised that his government would take concrete steps towards bringing back black money within 100 days of coming to power.
Apart from this, Modi had promised strict action against black money, saying that his government would make an agreement to share information with foreign banks and put pressure on tax hason countries. These promises had created great enthusiasm in the public and the issue became a major factor in BJP’s victory.
The recent report of Swiss National Bank has exposed the claims of the Modi government. In 2014, the deposits of Indians in Swiss banks were 1.22 billion Swiss Frank, which increased to 3.53 billion Swiss Frank i.e. around Rs 37,600 crore in 2024. This growth is more than three times and includes individual deposits, deposits by banks, financial institutions and companies.
According to the report, 2024 recorded an increase of 11% in the deposit amount of Indian customers. Most of these amounts have been deposited through banks and financial institutions, not individual accounts. Switzerland has made it clear that it would be wrong to call this amount ‘black money’, as it also includes legitimate business transactions and investment. Nevertheless, this growth has given opposition parties and people a chance to attack the government.
The Modi government has continuously clarified the increasing deposits in Swiss banks that this amount is mainly the result of legitimate business activities. The government claims that transparency has increased due to the agreement to share information with Switzerland and now the correct figure of deposits is coming out. A statement by the Finance Ministry said, “This increase shows the globalization and increase in investment of the Indian economy, not a sign of black money.”
However, the opposition has rejected this argument. Congress, AAP and other opposition parties have launched a scathing attack on the government. The Congress said in a statement, ‘Modi ji had promised Rs 15 lakh, but after 11 years, Indians’ money in Swiss banks (Swiss Banks) increased to three times. This is a betrayal of the public. AAP called it an air-air claim and said that the government has completely failed to bring back black money. X has seen sharp reactions on this issue. One user wrote, ‘In 2014, 15 lakhs will be given, in 2025, Swiss banks reached 37,600 crores. Devotees, still wake up! ‘ Another user commented, ‘Modi ji no longer does not even mention Swiss banks. Where did the promise of bringing black money?
The Modi government has taken several steps to bring back black money, including the Double Taxation Avoidance Agreement and the Automatic Exchange of Information Agreement with Switzerland. In addition, Black Money (Endisclosed Foreign Income and Assets) and Impression of Tax Act, 2015 was implemented. Under this, a time limit was given to declare foreign assets. The government also claimed that black money has been tightened by the formation of a special investigation team. However, critics say that these steps have proved inadequate.
In 2021, the government said in Parliament that it has no official figure of black money deposited in Swiss banks. This statement was the cause of controversy when reports of an increase in deposits of Indians in Swiss banks were revealed.
Opposition leaders who dismissed Modi’s 2014 promises now as Jumla argue that the government did not make any concrete progress in bringing back black money. Experts say that the increase of deposits in Swiss banks is not necessarily black money, as it may also include legitimate investment and business transactions. But the failure of the government that it could not clear this amount clearly from black money, weakens its claims.
Prime Minister Narendra Modi (Prime Minister Narendra Modi) promises 2014 that he will bring back the money from Swiss banks, standing in front of a bitter truth in 2024. The news of increasing the deposit of Indians three times in Swiss banks (Swiss banks) has questioned the credibility of the government. The public, once dreaming of 15 lakh rupees, is now seeking answers that what happened to the action on black money?
