Union Finance Minister Arun Jaitley has claimed that the size of the black-money kept abroad by Indians was shrinking owing to the strict measures of the Narendra Modi government including the tax reforms. He was addressing a special seminar on Income Discloser Scheme- 2016 in Ahmedabad today. He said that 'sizeable dip' in the illegal Indian holdings outside the country has been noticed during last two years. <br/><br/>He also said that owing to government's moves, there was panic among those having illegal assets outside the country. Mr. Jaitley also answered the queries of audience about the Prime Minister's poll promise of curbing the black money after coming to power. He said that during the last 65 years very little had happened with regard to those who kept illegal assets outside the country. <br/><br/>Mr. Jaitley said that the first step taken by Modi Government after assuming power at the center was the constitution of SIT on black money as per the direction of the Supreme Court. <br/><br/>He said that we are taking action with regard to black money inside and outside the country in consultation with the SIT. Gujarat Chief Minister Anandiben Patel and Union Revenue Secretary Hasmukh Adhia also addressed the seminar.