Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
India will begin its first round of consultations with the Swiss government on tracing black money stashed by Indians in banks in that country in December, but there is no guarantee of prosecution of offenders on the basis of information secured from them.
Against estimates of black wealth of Rs 300 lakh crore and black money in cash of Rs 3 lakh crore by economist Arun Kumar, the PMGKY numbers fall short by a huge margin.
Total amount in these accounts is estimated to be around Rs 1,500-1,600 cr
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.
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.
'The difference between black money in India and the black money out of India is, in India, it is tax evaded money and Indian money outside India is not only tax evaded money, but money which has been taken out of India's capital resources needed for India. So it is not only tax evasion, but treason too.'
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.
From marocain to bromocriptine, the Scripps National Spelling Bee has challenged young wordsmiths with some of the English language's most obscure and fascinating words over the past decade.
"Let people pay, but if they don't pay, go after them"
Beginning its campaign in India, the Global Institutional Investors Forum said that Mauritius was fully supporting India's fight against black money and money laundering and it was 'a clean, transparent jurisdiction of substance.'
The new City hybrid might seem expensive at Rs 21 lakh but offers a hybrid powertrain with excellent efficiency plus more aggressive styling.
Bharatiya Janata Party president Nitin Gadkari on Wednesday launched an attack on the Congress-led United Progressive Alliance government in the Centre for not taking any action against black money stashed away in foreign banks.
India is the latest of several nations to raise the alarm about illicit capital flight. Following high-profile scandals involving Liechtenstein and Switzerland, the Group of 20 nations has demanded greater co-operation in tackling the shadow financial system.
If you are feeling depressed, just watch this 15 year old on your TV! Your blues will fly away, exclaims Colonel Anil A Athale (retd).
To check black money menace, the Cabinet on Tuesday approved a new bill that would give more powers to the tax department in tracking illicit wealth stashed abroad and provide for strict penal actions for such offence.
His remark comes hours after the government disclosed before the Supreme Court eight more names, including that of Pradip Burman, one of Dabur India promoters, a bullion trader and a Goa miner against whom it has started prosecution for allegedly stashing black money in foreign banks.
The Election Commission has warned against any lapses in maintaining law and order ahead of the West Bengal Assembly elections, questioning the absence of a Narcotics Advisory Committee in the state and directing strict monitoring of financial transactions.
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 Enforcement Directorate (ED) has summoned Rajkot-based bullion trader Pankaj Lodhiya, whose name figured in the list of black money holders submitted by the government to the Supreme Court, to probe if he was involved in hawala trade.
Tata Motors' 2026 Tiago facelift is a tech-loaded and safety-focused entry-level hatchback, with prices starting at Rs 4.69 lakh.
Delhi Police have arrested a driver who masterminded a robbery of his employer's cash, after initially claiming he was robbed by motorcycle-borne assailants.
Might use it to counter Opposition campaign on land issue.
While being more expensive than its four-door sibling, the M440i convertible is more exotic with its looks, and being a convertible certainly adds to the driving experience, says Somnath Chatterjee.
If any foreign account holder violates Indian laws, tax authorities can enforce repatriation of funds.
White Papers, which are issued by the government, lay out the policy or proposed action on topics of current concern.
'Among corporates, about 60% of income is now reported under the new tax regime.'
A 40-year-old lost Malayalam cinematic gem, John Abraham's Amma Ariyan, has been meticulously restored in 4K by the Film Heritage Foundation and is now set to grace the prestigious Cannes Classics section
India has no plans to ration fuel supplies despite ongoing disruptions in global energy markets, according to a top oil ministry official. The country has maintained adequate inventories of crude products and LPG while diversifying imports to manage supply risks.
'In the total of black wealth, only 1% or less than 1% constitute cash.' 'So, even if cash is completely weaned out, it impacts only 1% of the black wealth.'
Amid claims from various quarters that Indians have stashed away thousands of crores in secret bank accounts in Switzerland, the Swiss banks have asserted that any statistics about black money "simply do not exist."
Eminent jurist Ram Jethmalani and others, who have alleged government inaction in bringing back black money stashed in foreign banks, on Friday told the Supreme Court that the Centre was withholding vital documents relating to the case.
Jantri rates act as benchmark for deciding stamp duty rates for registering property deals.
Indian Grandmaster R Praggnanandhaa drew with Wesley So in the fifth round of the Super Chess Classic, part of the Grand Chess Tour, while Vincent Keymer of Germany maintained his lead.
Replying to a poser on black money transactions in the real estate sector, the Prime Minister said stamp duties in the country are a 'big obstacle' to cleaning the mess with regard to transactions in real estate.
Stepping up attack on the government on the black money issue, Trinamool Congress MPs on Tuesday blocked the main entrance of Parliament and threatened to derail House proceedings over the matter.
A 'trend analysis' has shown that the target base for the special exercise would not be very large.
India has joined global efforts to combat global tax evasion.
