-PTI Demonetisation of high denomination currency notes like Rs 1,000 and Rs 500 may not help curb black money which is largely held in the form of benami properties, bullion and jewellery, a Finance Ministry report says. "One common demand from the public is that high denomination currency notes, particularly Rs 1,000 and Rs 500, should be demonetised", says a committee headed by the CBDT chairman in its report to the Finance...

-The Economic Times Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet. While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh...

-PTI Punjab Chief Minister Parkash Singh Badal today alleged that the state was "deliberately left out" by the Centre when announcements were being made for relief packages for states facing drought-like situation. Referring to the relief announced by the Centre for some states like Gujarat, Maharashta and Haryana in view of drought like situation, Badal said "it is unfortunate that Punjab was deliberately left out of its ambit despite the fact that...

-The Telegraph Ranchi: The state government has failed to arrive at a formula to end the Nagri land imbroglio and will once again seek time from Jharkhand High Court during a hearing tomorrow. Sources said the state government affidavit, to be filed by the Ranchi district administration, would comprise details of two rounds of inconclusive talks with the villagers and will seek more time to resolve the issue. “We are pursuing the case...

-Reuters Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income Tax revenues, according to research published on Sunday.  The study estimating the extent of global private financial wealth held in offshore accounts - excluding non-financial assets such as real estate, gold, yachts and racehorses - puts the sum at between $21 and $32 trillion.  The...