Estimating black Money has been a long time preoccupation of economists and tax collectors in India. Several books have been written and several government reports prepared. It is possible to suggest that the policy disincentives that may have contributed to black Money generation, like high tax rates, have been moderated, if not eliminated, and that the incentive to declare income has gone up since the beginning of tax and policy...

It is located in a separate building on the residential premises of the postmaster Dalits forced to transact from outside ‘If we try to enter the post office, they block the door' Seventy five-year-old Bailu has never set foot in the post office in her village in Betlhangady taluk for fear of being thrown out. Dalits of Melanthabettu village, located about 6 km from Belthangady, say they are denied entry into the post...

NREGA has always been touted as the UPAs flagship scheme but there have been a number of instances when the scheme has been misused by those who are dispensing funds.   IAS officers Sukhveer Singh and Chandrashekar Borkar both posted in Seedhi district in Madhya Pradesh, between 2006 and 2007, were charged with misappropriating nine crore rupees during this tenure. Funds meant for NREGA, a scheme that ensures hundred days of work...

The Centre may announce a tax amnesty scheme to bring back black Money stashed in banks abroad, finance minister Pranab Mukherjee hinted today. He declined to share the names of those who have black Money in foreign banks “as it violates international law”. By one estimate, anything between $450 billion and $1.5 trillion is in these accounts. Mukherjee’s news conference was called today at the behest of Prime Minister Manmohan Singh who...

The International Monetary Fund has warned that India faces a range of “Money laundering and terrorist financing risks” and remains a “significant” target of militant groups. In a report, the IMF appreciated New Delhi’s efforts to tackle the twin problems but raised concerns over the absence of convictions for Money laundering. The report drawn on July 2010 was released on Monday. “As a leader among the emerging economies in Asia with a strongly...