The government's move to make tax evasion a criminal offence has drawn strong criticism from former policymakers and commentators, who say if such a move is implemented it will hurt economic activity, undo years of tax reforms and increase harassment. A panel headed by Central Board of Direct Taxes chairman Prakash Chandra, which held its first meeting on Thursday, will examine the proposal. The proposal appears to have been made because...

Almost 65 years after Mahatma Gandhi used "satyagraha" or "truth force" to lead a movement against British rule in India, Gandhism is back, this time facing an enemy more pernicious than colonialism: corrupt politicians, bureaucrats and businessmen stashing stolen wealth abroad. The two foremost leaders of India’s anti-corruption movement, Anna Hazare and Baba Ramdev, are deploying satyagraha’s most potent weapon – fasting – with telling effect on the government. On Thursday, Hazare...

-The Hindu   The High Level Committee appointed for tracing black money stashed away abroad and unearthing such ill-gotten wealth in the country, on Thursday decided to seek public comments on the issue. The committee, headed by Central Board of Direct Taxes chairman Prakash Chandra, held its first meeting and discussed laws that need to be amended to tackle the menace. It was set up by Union Finance Minister Pranab Mukherjee last...

-PTI   Yoga guru Ramdev, who is on an indefinite hunger strike against black money and corruption, today made public details of his business empire worth over Rs 1,100 crore, claiming everything was in order. On his sixth day of fast, Ramdev addressed a press conference here during which his close aide Balakrishna said that the capital involving the four trusts run by him totalled Rs 426.19 crore while the expenditure incurred...

-The Times of India   The high drama over Baba Ramdev's midnight eviction and action against the peaceful gathering has shifted the focus away from the central is sue raised by the Baba – black money overseas – to the right to protest in a democracy. This being the case, there is danger of an uninformed debate on black money taking over, guided more by emotions and populist talk rather than...