The issue of black money dominated in Lok Sabha on Wednesday with the Opposition asking the government to bring back an estimated Rs 25 lakh crore stashed away illegally in foreign banks and reveal the identity of depositors.
If one has to compare the tenures of the two prime ministers one must credit Nehru with laying the foundations on which Modi is building a grand edifice, asserts Colonel Anil A Athale (retd).
Punjab Chief Minister Bhagwant Mann has accused the BJP-led central government of playing 'dangerous games' with Punjab, alleging the misuse of agencies like the Enforcement Directorate (ED) and the CBI for political purposes.
Attacking the Bharatiya Janata Party for failing to bring back black money within 100 days of power, All India Congress Committee leader Rahul Gandhi claimed that administration was "an art that required patience and seriousness" and the BJP lacked the abilities.
The Congress party in Maharashtra has accused senior police officials, including an IPS officer, of involvement in a multi-crore bogus call centre racket and is demanding a high-level investigation.
The move is likely to help the government track black money parked by Indians in Belgium - a huge diamond trading hub.
The window under the Income Declaration Scheme 2016 opened on June 1 and will close on September 30
The allocation was part of the budget 2014-15 presented by Finance Minister Arun Jaitely on Thursday.
"If we do surgical strikes (in this area), you can imagine what all will come out," the prime minister said.
Tamil Nadu Governor RV Arlekar announced that the TVK regime, led by Chief Minister C Joseph Vijay, will take steps to ensure fair financial devolution from the Centre, including pursuing the matter in the Supreme Court. The government also plans to conduct a 'Social Justice Survey' and address the state's severe financial deterioration.
Use cheques, cards to check black money, says Jaitley.
A special task force which would comprise the Financial Intelligence Wing, enforcement directorate, directorate of Revenue Intelligence and the Income Tax department, has been set up for the purpose.
Noted jurist Ram Jethmalani on Tuesday accused in the Supreme Court the National Democratic Alliance government and the previous United Progressive Alliance dispensation of failure to bring back black money stashed abroad and criticised leaders including Prime Minister Narendra Modi, Bharatiya Janata Party President Amit Shah and Finance Minister Arun Jaitley on the issue.
'While higher prices may create some financial burden for patients and caregivers in the short term, uninterrupted access to treatment remains the greater priority.'
The e-wallet, virtual cards are often used to play online games.
A total of 635 declarants have filed declarations declaring undisclosed foreign assets worth Rs 4,160 crore.
The order came following an appeal by an RTI applicant who had sought to know the action taken report on the letters written by him to Finance and External Affairs ministries among other public authorities in connection with the illegal wealth stashed abroad.
In its pursuit to unearth black money, the Income Tax Department will probe certain banks and their officials suspected to be helping customers hide illicit funds through multiple accounts.
Replying to a query, whether the government has made any assessment of black money stashed by Indians in foreign countries, Jaitley said there is no official estimation of that.
There were as many as 628 names in the HSBC list.
Advocate Prashant Bhushan, who is one of the petitioners in the black money case, makes a case for the revelation of all the names of account holders that the government has submitted to the Supreme Court.
A labourer was allegedly kidnapped from a train in Thane by an individual posing as an RPF officer, who then demanded ransom from the victim's family.
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On the Congress accusing BJP of hypocrisy for its failure to disclose names, Jaitley said the Congress got it all wrong because media "completely misreported" the case.
A bench headed by Justice B Sudershan Reddy asked the government to make its stand clear on setting up an SIT comprising officers from different departments, including the Enforcement Directorate, the Central Bureau of Investigation and the Income Tax department to look into it.
Yoga guru Ramdev on Sunday announced a fresh agitation against black money and corruption and said he will stage a one-day dharna on June 3 at New Delhi to mark the first anniversary of the police crackdown on his supporters at Ramlila grounds.
In its effort to unearth black money stashed away abroad, India has received data on over 24,000 instances of alleged tax evasion and dubious funds which has been detected in foreign shores in the last financial year.
The MoU deals with creation of a useful forum for exchange of views on financial and macro-economic issues. Official sources said the MoU will facilitate dialogue between the tax authorities of the two countries.
Senior Bharatiya Janata Party leader L K Advani has apologised to Congress president Sonia Gandhi for a party-appointed task force report, which had alleged that she and her late husband Rajiv had accounts in Swiss banks.
Progress has been painfully slow despite strengthening global information-sharing networks.
Reminding the Bharatiya Janata Party government of its poll promise of bringing back black money, Congress general secretary Digvijay Singh on Thursday dared the Centre saying if it has courage it should reveal the name of account holders.
Holding out no assurance of an absolute confidentiality to those disclosing foreign assets on their own, the government on Tuesday said details of information provided during the one-time compliance window can be revealed in the public interest.
India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.
Notification, FAQs likely after FM Jaitley returns from the US
The Indian government has issued a stern warning to industrial users who are reportedly procuring cheaper retail fuel instead of industrial-grade fuel, leading to significant losses for state-run oil marketing companies (OMCs) and potential local shortages. This diversion, driven by a substantial price difference between retail and bulk diesel, is adversely impacting OMCs, which are absorbing daily losses of approximately 550 crore to keep retail prices stable.
The Supreme Court of India issued a very unique order on Monday when it directed a Special Investigating Team be set up to monitor the investigation into the issue of black money.
No, curbing it requires a radical overhaul of our political structure, but since the executive has failed to act in public interest the court had no other choice but to take matters into its own hands.
He challenged political parties to face the polls with the issue.
A small change in the Income Tax Act from 'total income' to 'gross total income' can make a big difference in containing black money
Persons making disclosure of unaccounted assets will be given time up to November 30 to pay taxes
In the last Budget, the government had come out with similar compliance window for people holding undisclosed assets abroad.
