Black money can destabilise world peace: PM Modi

New Delhi: Warning that black money can destabilise world peace and harmony, Prime Minister Narendra Modi today asserted that democratic nations have an obligation of collectively fighting this evil as it does not affect any country selectively.

A day after his return from a foreign tour during which the issue of black money was flagged at the G-20 Summit in Australia, Modi wrote a blog saying that “India placed the issue of existence and repatriation of black money at the forefront of the world community.”

The Prime Minister said he was glad that the world community took note of this “because this is an issue that does not selectively affect one nation.” Warning that “the menace of black money has the potential to destabilise world peace and harmony,” Modi said, “black money also brings with it terrorism, money laundering and narcotics trade.”

Pitching for a united global fight against the menace, he said, “As democracies firmly committed to the rule of law, it becomes our obligation to collectively fight this evil and there was no better occasion than the G-20 to raise this.” Referring to the outcome of the G-20 Summit, he said, “Our efforts paid off with the official communique reflecting this issue.”

Modi, who attended five Summits and met 38 world leaders during his 10-day tour of Myanmar, Australia and Fiji, said, “I noticed one thing - that the world is looking at India with renewed respect and immense enthusiasm! I see a global community that is tremendously keen to engage with India.”