I am not an astrologer but I am confident that the price situation would be brought under control: PM

NEW DELHI: On Wednesday Prime Minister Manmohan Singh said there was “no instant solution” to bring back black money stashed away in foreign banks and that information with the government could not be made public due to treaty obligations.

He told reporters at Rashtrapati Bhavan after a reshuffle of some portfolios and new inductions, “There is no instant solution to bring back what is called black money. We have got some information and that has been provided to us for use in the collection of due taxes.” This is the first such exercise in his second term in office.

His comments came close on the heels of the Supreme Court pulling up the government for withholding information on black money stashed in foreign banks. The Centre’s contention before the court was that it was case of tax evasion.

Noting that he was not aware of what the court had said, Dr. Singh said: “We cannot use the information for any other purposes and that information cannot be made public” as the country could not violate the obligations under international treaties.

The Prime Minister exuded confidence that prices would stabilize by March but said certain factors were beyond the control of the government. Manmohan also said, “I am not an astrologer. But I am confident that the price situation would be brought under control. We will be able to bring price stability by March.”
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