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...

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...

Unfazed by opposition attacks and questions from the Supreme Court, government on Tuesday maintained that it cannot disclose information received from foreign entities on black money held by Indians abroad because of absence of legal framework. Finance minister Pranab Mukherjee, however, dismissed opposition criticism that it was not disclosing information because such disclosure could result in the government's fall. "Let us understand the issue. No information can be made available unless there...

State information commissioner H N Krishna on Saturday fined an official from Mandya for delaying information sought under the Right to Information Act. Hearing the petitions filed before the information court, the commissioner took the taluk panchayat official of K R Pet taluk to task and fined him Rs 5,000. The application was pending before him for nine months. "Officials must provide details within 30 days of filing of the application. In...

Students at the Indian Institute of Science in Bangalore raised questions on the huge cost of the newly-launched unique identification project, the security of the system and what was being done to prevent its possible misuse, but they got no clear answer In the Indian Institute of Technology (IIT) that I graduated from way back in 1983, dialogue and debate were the essence of true talent. Those who were revered most...