Three institutes entrusted with the task to estimate amount say data collection a hurd#8804 to submit report by December.
The Central Board of Direct Taxes (CBDT) has signed up the country's three top economic think tanks to arrive at an official figure. This will help the government frame policies to tackle the problem.
As part of efforts to tackle the menace of black money, the government has commissioned studies to estimate the amount of unaccounted income and wealth.
Three entities entrusted with job submit reports on black money estimation.
India has joined global efforts to combat global tax evasion.
Citing national security and confidentiality clauses, the Finance Ministry has declined to disclose information on exchange of correspondence among India, Swiss and German authorities in connection with the black money probe.
India is among 75 countries with which Switzerland's Federal Tax Administration has exchanged information on financial accounts within the framework of global standards on Automatic Exchange of Information.
The three day MPC meeting began on Monday and the decision will be announced on Wednesday by RBI Governor Shaktikanta Das.
.jpg)
The Finance Ministry had set a time period of 18 months, which expired last year on August 21, for completion of the study.
'What we have to think about is, how to improve the efficiency of public sector banks.' 'You have to make decision-making more prudent, and free from government intervention.'
Government's financial inclusion mission is well intentioned, but it may be putting a severe strain on the banking sector.
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
Some 800 million or more Indians gaze at their mobile phones all day. Whoever can crack what's news on the mobile phone for them and their families, for a nominal payment of Rs 10 a month, is a winner, says Ajit Balakrishnan.
Creating many more half-decent jobs for the 10 million plus new entrants to the labour force each year must surely constitute the primary development challenge for India today.
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
'Both India and Japan can find themselves in a win-win situation if they draw some lessons from each other's strengths,' says Dr Rajaram Panda.
'They don't always agree with our governments, their teachers or their parents, but it is the conviction of their ideas, and their determination to share them with the world that, I believe, is one of the greatest sources of hope for our planet.' 'The colonisation of space, understanding the very building blocks of matter and the universe, utilising our understanding of the human genome to conquer disease -- these are the tasks waiting for a fellowship of minds to realise new triumphs in our collective destiny.'
With facts and figures, the CAG report has highlighted how Gujarat was far from a role model for states across India, and that the progress made in this province in western India in improving agriculture, education, healthcare and empowerment of women and children, was not exactly creditable, says Paranjoy Guha Thakurta.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances