-The Times of India MUMBAI: Tax authorities will intensify their efforts to crack down on unaccounted-for money stashed overseas by seeking information from their counterparts in other countries. A recent letter issued by the Chairperson, Central Board of Direct Taxes (CBDT) bears testimony to this intention. To ensure that Indian tax authorities have access to information from other countries and can thus tackle the menace of black money and tax avoidance, several...

-PTI HYDERABAD: A day after the Chief Minister remarked that observations of CAG were "not scriptures", the public auditor picked many holes in Andhra Pradesh government's budgeting process and financial management even as it praised the state for achieving fiscal reform targets. In its report on the state Finances for 2011-12, the CAG rapped the government for failing to ensure proper utilisation of allotted funds, particularly on capital works, resulting in staggering...

-The Times of India At a time when the government is facing trouble maintaining its fiscal health and is set to add over Rs 1.25 lakh crore to its subsidy bill for providing food security to its poor, the UPA has burdened the exchequer further by exporting wheat at lower than its cost price - incurring an estimated loss of over Rs 1,700 crore. Sources in the Finance ministry said the loss...

-The Hindu Eminent retired bureaucrats and members of the Forum of Retired Officers of Indian Audit and Accounts Service have demanded the creation of a selection committee headed by Prime Minister to select the new Comptroller and Auditor General (CAG) of India. The term of current CAG Vinod Rai ends in May. In a memorandum to President Pranab Mukherjee and Prime Minister Manmohan Singh, they have argued that need of the...

-The Indian Express As in the case of lawyers and doctors, a formal qualification must be prescribed for journalists Journalists comment on everything under the sun. But when someone comments on their profession, they let loose furious fusillades flaunting the slogan, "the freedom of the media in danger". Most condemn even the suggestion of a public debate on the issue of media regulation and responsibilities. No one can deny my credentials as a...