NEW DELHI: India said it plans tougher punishments including jail terms of up to 10 years for those who hide undeclared cash outside the country and for the banks and advisers who help them, as it tries to bring back illicit billions stashed abroad.
In his budget address on Saturday, Finance Minister Arun Jaitley said the government would introduce the changes in a new law during the current session of parliament, which will also allow enforcement agencies to seize assets held abroad.
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