Proposed scheme will not provide immunity to tax defaulters.
The four-day tour, beginning September 21, includes World Bank-International Monetary Fund meetings, as well as interactions with investors.
Top ministers from about 20 states and some officials from the finance ministry are leaving for a 10-day trip to Europe next week.
This is not the first time that industry has been slow in responding. The finance ministry had to send repeated reminders to industry captains to get feedback on quite a few discussion papers in recent times.
Apart from consent orders, it has been decided to take fast and stringent action in surveillance and investigative cases in the coming months.
Industry's wait for new bank licences may get a bit longer as the Reserve Bank of India's (RBI's) suggestions to amend the Banking Regulation Act will not be incorporated in the report of the Standing Committee on Finance in the Banking Laws (Amendment) Bill, 2011.
At present, India is only a member of various committees of the 34-member organisation.
User and live accounts test done, software to roll out country-wide in a year.
Move aimed at speeding up process, checking corruption in funds' transfer.
From April onwards, the government have sensitised the ministries to live within the Budget.
Nine advisory committees to suggest sector-wise solutions.
Those conducting their businesses predominantly in cash and evading income tax have reasons to worry.
Leaving behind apprehensions of a rise in interest rates and petro duty cut impacting budget numbers, the officials are now confident of keeping the fiscal deficit within the targeted 4.6 per cent of the gross domestic product.
This at a time companies have asked the revenue department to increase the rate in view of higher bank rates.
Finance ministry officials said they were scrutinising many deals, but the actual tax liability would depend on many factors, including the kind of payment (royalty, interest, stake sale) and the Double Tax Avoidance Agreement with the country where the foreign company was based.
Empowered CIB to play lead role in recovering tax evaded.
Empowered CIB to play lead role in recovering tax evaded.
The accounting system of the central and state governments may change considerably, with a high-level committee suggesting sweeping changes in how expenditure is classified in Budget documents.
However, the finance ministry is hopeful of keeping its fiscal deficit under control.
"It is felt there should be an arm's-length distance between the fund manager and the custodian of securities. There should be separation between fund manager, banker and the custodian," a senior labour ministry official said.
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