It is not often that a social security programme the size of Mahatma Gandhi NREGS - New Delhi has spent Rs 40,000 crore on it in 2010/11 alone - faces an existential moment. But, April 2011 will present one such crossroad: the end of the term of a bureaucrat widely acknowledged as the prime mover behind the five-year old scheme. Brought in six years ago to the Centre from her parent...

All real estate transactions will have to be reported to the country's anti- moneylaundering agency once the government amends a key law that seeks to curb black-money transactions. The government plans to amend the Prevention of Money Laundering Act , which will require property registrars to file data of transactions recorded by them with the Financial Intelligence Unit, or FIU, a finance ministry official said. "The scope of the (Prevention...

The Income Tax Department has handed over to the CBI tapes of a fresh set of an estimated 15,000 conversations of intercepted telephone calls which could widen the scope of the agency’s probe in the 2G scam and spell trouble for corporate lobbyist Niira Radia. The 15,000 conversations involve two alleged Delhi-based hawala dealers Anil Bansal and R S Bansal whose phones were put on surveillance along with those of Radia...

Enforcement Directorate has begun attaching Madhu Koda and his friends’ properties, mostly flats and land in Bihar, Jharkhand and Maharashtra, valued at over Rs 300 crore. Armed with an April 6 approval order from the adjudicating authority for cases under the Prevention of Money Laundering Act (PMLA), the directorate is sticking to the higher valuation even though 2007 revenue department assessments pegged the properties’ worth at around Rs 130 crore. “This is...

The gap between PAN holders and the number of returns filed was 617.1 lakh Biometrics uses biological method to identify physical features of an individual The government has decided to issue biometric PAN cards to taxpayers across the country to weed out the problem of duplicate and fake ones. The decision was taken recently by the Finance Ministry, in the wake of a Comptroller and Auditor General (CAG) report that asked the Income...