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...

A thriving black market in kerosene, estimated to be worth Rs 10,000 crore every year, killed additional collector Yeshwant Sonawane. A litre of kerosene sold at ration shops is often costlier than a bottle of packaged water. Most of this "poor man's fuel" is pilfered and sold in the black market for a price that's two or three times higher. It's really money for jam. Sonawane tried to meddle with this...

The Supreme Court has issued a notice to the Centre on a public interest litigation seeking disclosure of all taped telephonic conversations of corporate lobbyist Niira Radia . A bench comprising Justices GS Singhvi and SS Nijjar on Monday sought a response from the government on why the tapes containing conversations between Radia and various politicians, businessmen and journalists should not be made public. It posted the matter for further...

India, Switzerland had signed a protocol to amend the DTA last year It is expected to help India get details about illicit wealth India may have to wait till at least next year for information from Switzerland on the possible black money trail to Swiss banks, as a treaty for the same might come into force only by the end of 2011. The treaty needs to be ratified by various authorities in India...

The Supreme Court on Monday issued a notice to the Central government on a PIL seeking disclosure of contents of all tapes of corporate lobbyist Niira Radia which were tapped by government agencies, except pure private conversations. A bench of justices G S Singhvi and S S Nijjar issued notice to the Centre and adjourned the matter for further hearing on February 2. The court passed the order on a petition filed...