Narayan Prasad Jain, CPI(M)’s candidate from Bhowanipore assembly constituency, filed his nomination papers on Wednesday and declared his individual assets to be worth Rs 2,41,63,447. The same came as a far cry from his comrade and chief minister Buddhadeb Bhattacharjee, who had earlier declared his personal assets worth at Rs 5,000. The combined assets of Jain, a masters in law and a practising advocate, filed before the Survey Building at Alipore...

Over Rs.1,000 crore deposited Procurement process being monitored For the first time in India, the Madhya Pradesh government has directly deposited over Rs. 1,000 crore in the bank accounts of farmers against procurement of wheat in the last 25 days. This amount includes a bonus paid at the rate of Rs.100 per quintal. The direct deposit process aims at saving farmers from the clutches of middlemen and will be continued in the coming...

The Centre today promised a “comprehensive study” to gauge black money but told the Supreme Court it couldn’t reveal information on such cash stashed abroad because of “confidentiality” clauses in overseas pacts. The government explained its stand in an affidavit in the Supreme Court, which had earlier rapped it for not doing enough to deal with the menace. The National Institute of Public Finance and Policy, the National Institute of Financial Management...

It is almost two years since the German Government had passed on the names and bank account details of eighteen Indians who had stashed their alleged ill-gotten wealth in the LGT bank of Liechtenstein, a well-known tax haven nation, 190 km from Munich, Germany. Germany had officially handed over the list to the Indian Government on 18 March 2009. Prime Minister Manmohan Singh and Union Finance Minister Pranab Mukherjee have since...

The finance ministry has ruled out a fresh tax amnesty scheme, saying that no such proposal was on the table. Ministry officials told Parliament's Standing Committee on Thursday that the issue of a new tax amnesty has not even been discussed, scotching the speculation suggesting that one was being mulled. The officials said that they did not know how this started. Members of the Standing Committee asked the government to use India's...