Tax black money stashed in banks abroad: Farooq

NEW DELHI: Union Minister Farooq Abdullah on Friday suggested taxing black money stashed in banks abroad saying "this is the best way" out.

Abdullah said even the US and other powerful nations could not get the black money stashed in banks abroad.

"Let's follow the policy that the West has followed. Let's tax the people whose money is stashed abroad. That is the best way," he said and made it clear that he was speaking in his individual capacity and not on behalf of the government.

Speaking at the inauguration of Kashmir festival here, Abdullah took a veiled dig at the opposition for frequently disrupting the Parliament.

"They (opposition) have an issue. Black money. What is black money and while money? It's money at the end of the day," he said as the audience burst into laughter.