Indian deposits in Swiss banks falling sharply since 2014: Piyush Goyal
New Delhi, July 24 : Finance Minister Piyush Goyal on Tuesday dismissed as "baseless" the allegations of a 50 per cent jump in deposits by Indians in Swiss banks and said the Congress was trying to tarnish India's image on the international stage by "spreading lies".
He said that contrary to Congress President Rahul Gandhi's assertion that deposits by Indian nationals in Swiss Banks had increased by 50 per cent, the actual Indian deposits had gone down by 34 per cent between 2016 and 2017 and by over 80 per cent since the BJP government came to power in 2014.
Goyal told reporters that the data referred to by Rahul Gandhi includes non-deposit liabilities, business of Swiss branches located in India, inter-bank transactions and fiduciary liabilities.
"The Swiss government has informed us that the news being spread by Rahul Gandhi is baseless and that the figures quoted by some political leaders are completely irrelevant to this issue," he said.
The minister said the Swiss government had told India in writing that the figures published by the Swiss National Bank are regularly mentioned in the Indian media as a reliable indicator of the amount of assets held with Swiss financial institutions in respect of Indian residents but more often the media reports do not take into account the way the figures have to be interpreted.
"This has resulted in misleading headlines and analyses. Moreover, it is frequently assumed that any assets held by Indian residents in Switzerland are undeclared-- so-called 'black money'," Goyal said quoting the Swiss government's response.
"To analyze Indian residents' deposits held in Switzerland, another data source should be used. This is the so-called 'locational banking statistics', which the Swiss National Bank collects in collaboration with the Bank for International Settlements (BIS)," he added.
Goyal said that Rahul Gandhi raked up the issue without understanding the seriousness of the matter.
"He's habitual of making allegations without knowing the reality as we saw in the no-confidence debate as well which led to a rebuttal by the French government the same day. And now we have the Swiss government dismissing his claims," he said.
Goyal said that since 2014, there has been an 80 per cent reduction in money held by Indians in Swiss banks from $2.2 billion in 2014 to just over half a billion dollars in 2017.
"In 2017, deposits have reduced by 34 per cent from $800 million to $524 million. And this has been reducing every year.
"This shows how attempts are being made to malign India's image in international stage through false allegations by the Congress and some other motivated elements," Goyal said.
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Chandrayaan-5 to have heavier lander with longer mission life: ISRO Chief
Bengaluru (PTI): India is planning to collect samples from the Moon and bring them back to Earth under Chandrayaan-4, while Chandrayaan-5 will involve a heavier lander with a longer mission life, ISRO Chairman V Narayanan said on Wednesday.
He also spoke about ISRO's future missions including the one to study Venus and the other on Mars landing mission.
"Now we are working on the continuation of the Chandrayaan programme. In Chandrayaan-4, we plan to collect samples and bring them back. Chandrayaan-5 will involve a heavier lander with a longer mission life," he said at the inaugural ceremony of ISRO's fourth edition of the Space Science and Technology Awareness Training (START 2026) programme here.
He recalled that in Chandrayaan-3, the lander's mission life was only 14 days.
"In the future mission, we are talking about a life of around 100 days. The rover will also be heavier. Chandrayaan-3 had a rover of about 25 kg, while the future mission will have a rover of about 350 kg," Narayanan said.
Referring to ISRO's future programmes like the Venus Orbiter Mission, he said, "We have already accomplished the Mars Orbiter Mission, and now we are working on a Mars landing mission."
"These are some of the projects being discussed for government approval. So there is a lot of interest in the science area."
He noted that under Prime Minister Narendra Modi, the vision of the space programme has been expanded and said, "We are currently working on the Gaganyaan programme and are planning to send our own astronauts into space and bring them back safely, possibly within the next two years."
"We are also planning to build our own space station by 2035. Additionally, we are working on landing Indians on the Moon and bringing them back safely by 2040. Brainstorming activities have already begun. So there are many activities happening in the space sector. Apart from application-related activities that ensure food security, water security, communication, and safety for citizens, there are many initiatives planned in the science area as well," he added.
Narayanan noted that India's space programme has accomplished 10 scientific missions so far, including AstroSat, which recently completed a decade in orbit and was still functioning very well.
He also highlighted India's various lunar exploration missions -- Chandrayaan-1, Chandrayaan-2, and Chandrayaan-3 -- saying they led to many scientific discoveries.
"We are progressing in a big way," he added.
Highlighting the successful Chandrayaan-3 mission in the year 2023, the ISRO chairman said that India became the first country to successfully achieve a soft landing near the south pole of the Moon.
"Not only did we achieve the landing, but many discoveries were made. Around eight minerals were identified, seismic activity was studied, and the thermal profile of the Moon's surface was understood. Electron clouds were also studied. So many discoveries have come from that mission," he added.
Referring to the launch of Aditya-L1, the ISRO chairman said, "India is the fourth country to successfully place a satellite to study the Sun, and a large amount of data has already come out, and we have released the data as well."
Emphasising India's Space Vision 2047, he recalled that the country, which started with very humble beginnings, has developed significant capabilities.
"Today, we have the capability to conceive, design, and build our own launch vehicles, as well as conceive, build, and place satellites in orbit. Fifty years ago, we did not have this capability. Today, we can build satellites and the payloads required for them," Narayanan said.
Citing an example, he said that earlier optical cameras used lenses that were only about one inch in diameter.
"But today, in ISRO, cameras with optics of about 1.7 metres in diameter and almost one foot in thickness are being developed. These optics are being built at the LEOS (Laboratory For Electro Optics Systems) laboratory in Bengaluru for space observation. Many such activities are happening in the space sector," he noted.
He pointed out that the US, after 1969 and almost after 50-55 years, has again shown interest in landing on the Moon.
"The Artemis programme is already a very vibrant programme, with many activities going on. An accord was signed in 2023, and India is also a signatory to that accord," he said.
Speaking about China and Russia leading efforts to build the International Lunar Research Station (ILRS), the ISRO chairman noted, "When we talk about such space stations, one aspect is technology development. The second aspect is the large number of scientific experiments that will take place there. There is also a lot of competition today."
"There was a time when only government organisations across the world carried out space activities. Today, companies like SpaceX have advanced significantly. In fact, they have overtaken many others in terms of launches," he added.
He said that the main idea behind programmes like START 2026 is to encourage the next generation of youngsters to develop interest in this field and to build scientific temper so that they can become great leaders in building the nation.
