Black money probe: Pranab Mukherjee to give details

May 21, 2012

pranab_copy

New Delhi, May 21: Finance Minister Pranab Mukherjee is likely to table White Paper on black money in Parliament today, providing information about black money stashed abroad.

The Opposition, led by the BJP, has been targeting the government over the issue. The main Opposition charge is that the government is going slow on probe into black money.

"I will try to give all the relevant and possible information," Mr Mukherjee had earlier said during the debate on Finance Bill in the Lok Sabha, while promising to bring the White Paper in the on-going Budget Session.

However, there are also indications that the White Paper may not provide the estimates of the black money stashed overseas as the expert committees appointed by the government to assess the amount of unaccounted money are yet to submit their reports.

"In respect of estimates of black money, three institutions are studying it independently and they will give their reports at the end of an 18-month period, and that period is coming to a close around July or August.

"We have not yet received their reports. I will share that information with you, as soon as I get the reports from those three independent study groups. But the White Paper containing other relevant information will be made available to the members," the minister had said while responding to the issues concerning black money raised by Mr Advani in the Lok Sabha on May 8.

The White Paper, however, is likely to contain the report of an official committee, set up in May 2011, under the chairmanship of Central Board of Direct Taxes (CBDT).

This was in addition to the independent studies being carried out by National Council of Applied Economic Research (NCAER), National Institute of Public Finance and Policy (NIPFP) and National Institute of Financial Management (NIFM).

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
August 6,2020

The Indian Defence Ministry, which had in its document that China intruded into the Indian territory in eastern Ladakh in early May, on August 6 took down the page which it had uploaded on its website.

According to a report by news channel NDTV, the ministry, in its document, had said the Chinese aggression has been "increasing along the Line of Actual Control (LAC) and more particularly in Galwan valley since May 5."

"The Chinese side has transgressed in the areas of Kungrang Nala, Gogra and north bank of Pangong Tso Lake on May 17-18," the document, titled 'Chinese Aggression on LAC' stated.

The document revealed that "... a violent face-off incident took place between the two sides on June 15, resulting in casualties on both sides."

After the clash, a second corps commander level meeting took place on June 22 to discuss the modalities of de-escalation. "While engagement and dialogue at military and diplomatic level is continuing to arrive at mutually acceptable consensus, the present standoff is likely to be prolonged," it said.

A defence ministry spokesperson told the news channel that the document "did not go through him".

The opposition Congress, meanwhile, asked the government why the report was taken down with party leader Rahul Gandhi alleging that removal of the document from websites would not change facts.

"Forget standing up to China, India's PM lacks the courage even to name them. Denying China is in our territory and removing documents from websites won't change the facts," Gandhi tweeted.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 23,2020

Bengaluru, Mar 23: Indian stocks plunged over 9% on Monday, as the rapidly spreading coronavirus pandemic sent major states including the country's capital into a lockdown amid increasing fears that outbreak could bring world economies to a grinding halt.

The NSE Nifty 50 index slipped 9.17% to 7,937.75 by 0408 GMT, while the S&P BSE Sensex was 9.42% lower at 27,093.24.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdowns, bringing normal life to a grinding halt.

"Panic has gone up domestically because of the lockdown situation," said Vinod Nair, head of research at Geojit Financial Services.

"There is fear that the situation will not be brought under control soon."

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world's reserve currency.

Meanwhile, global markets crumbled, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

After market hours on Friday, the Securities and Exchange Board of India halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb "abnormally high" volatility amid the pandemic.

In domestic trading, the Nifty PSU Bank Index plunged 8%, while the Nifty bank index crashed nearly 10%.

The Nifty Auto Index slid 9% after several carmakers over the weekend suspended production due to the virus.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 13,2020

New Delhi, May 13: Union Finance Minister Nirmala Sitharaman will address a press conference in New Delhi at 4 pm on Wednesday.

The information regarding the press conference by the Union Finance Minister was given through a tweet by the Ministry of Finance today morning.

Sitharaman's press conference comes a day after Prime Minister Narendra Modi announced USD 265 billion fiscal stimulus to deal with COVID-19 situation in the country. The package is the second largest in Asia after Japan.

"I announce a special economic package today. This will play an important role in the 'Atmanirbhar Bharat Abhiyan.' The announcements made by the government over COVID, decisions of RBI and today's package totals to Rs 20 lakh crore (USD 265 billion). This is 10 per cent of India's GDP," the Prime Minister said in his address to the nation on Tuesday.

"This economic package is for our small-scale industries, MSMEs, which are the means of livelihood of crores of people and is the strong base of our resolve for self-reliant India. To prove the resolve of self-reliant India, the emphasis has been given on land, labour, liquidity and laws, in this package," he added.

The PM had also said that the economic package is for "the country's workers, farmers, who are working hard day and night for the countrymen in every season. This economic package is for the middle class of our country, who pays tax honestly and contributes to the development of the country."

He had announced that the fourth phase of the nationwide COVID-19 induced lockdown would be in "new form with new rules."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.