-The Hindu Amendment to provide for transfer of proceeds of foreign predicate offence The government tabled the Prevention of Money-Laundering (Amendment) Bill, 2011, in the Lok Sabha on Tuesday. It seeks to introduce the concept of a ‘corresponding law' to link the provisions of Indian law to those of other countries and to provide for transfer of the proceeds of foreign predicate offence committed in any manner in India. The Bill enlarges the...

Foreign direct investment in education has been stuttering in India more than a decade after it was allowed, apparently because education is a not-for-profit sector where surplus revenue has to be ploughed back into expanding the institution. India’s education sector has witnessed significant expansion since the government approved FDI in April 2000, thus providing a huge opportunity for investment. Yet FDI remained zero in the first three years, increased till 2008-09...

The top 10 investment destinations for Indian companies in the last three years are all tax havens, if the US and UK which figure at number 4 and number 8, respectively, are discounted. The statistic, released by the finance ministry, reinforces the belief that the government has failed in curbing the flow of black money out of the country. Around 40% of the total investments in these three years have been...

Finance secretary R S Gujral on Tuesday said the income tax department has started prosecution proceedings against all those found guilty of stashing black money abroad, including the Indians found having accounts in HSBC, Geneva.  Gujral said it was an entirely wrong notion that people found accused in black money cases would be left without prosecution. "We have started prosecution process and we are bound by no agreement not to do...

-IANS   The government on Wednesday said it is determined to pass the Lokpal bill as it unveiled its agenda for the winter session of parliament that includes a slew of anti-corruption legislations apart from the ambitious food security bill. Apart from Lokpal, other anti-corruption bills slated for consideration and passing in the winter session include whistle blower protection bill and judicial standards and accountability bill. Talking to mediapersons, Parliamentary Affairs Minister Pawan Kumar...