Modi seeks help to tackle black money

Brisbane: Indian Prime Minister Narendra Modi on Sunday urged G20 nations to forge close coordination to battle black money and linked it to security issues such as terrorism.
Addressing a G20 session, “Delivering Global Economic Resilience”, Modi also voiced support for a new global automatic exchange of information, saying it would help unearth information about unaccounted money stashed abroad.
Modi “reiterated his call for close policy coor-dination among major economies, saying this is important not just for addressing the challenge of black money but also for security issues like terrorism, drug trafficking (and) arms smuggling”, according to an official statement.
“He said although all countries have domestic priorities, coordinated decisions would ‘help us all’ in the long run. He said the resilience of the global financial system will also depend on cyber security.”
He said he supported all initiatives to promote exchange of information and mutual assistance vis-a-vis tax policy and administration.(IANS)