Mr Jaitley's observation in the Budget speech is significant as the Modi government had come under attack for allegedly letting Kingfisher Airlines owner Vijay Mallya "flee", a charge denied outright by the government.
He, however, did not name Mallya in his budget speech read out in the Lok Sabha. The Finance Minister said such a measure will be important as lately "big time offenders" defaulting on loans from banks have been found leaving the country.
"The government is mulling introduction of legal changes to confiscate assets of offenders, including economic offenders, who flee the country," said Mr Jaitley. A consortium of banks had moved against Mallya for recovery of over Rs 9,000 crore. Mallya had left India in February 2016 and has been fighting his case from London. (UNI)