-ENS Economic Bureau   Estimates on Black money stashed away by Indians is still very much a grey area. So when the CBI Director emphatically declared on Monday that $500 billion of illegal money belonging to Indians was deposited in tax havens abroad, the figure caused more than a mild flutter.   Mainly because the information currently available on the Black money economy is way too disparate and vague. Considering the available evidence, the...

Indians with undisclosed foreign assets and offshore bank accounts will be in for a shock this Budget if the finance ministry clears a proposal empowering income tax authorities to reopen assessments up to 16 years as against 6 years now.  The proposed amendment, the ministry feels, may not only act as a deterrent, but also put pressure on people to declare their wealth stashed away in Swiss banks and tax havens.  In...

-The Indian Express CBI director Amar Pratap Singh declared today that “if the king is immoral, so will be his subjects”, and sought “ethics in governance” while addressing an Interpol anti-corruption programme. In a hint at scams involving ministers, Singh said: “I am prompted to recall a famous verse from ancient Indian scriptures, which says ‘Yatha raja tatha praja’.” Singh said $ 500 billion (nearly Rs 24 lakh crore) had been stashed away...

The government’s draft report on Black money — that has been circulated to members of the high level committee on Black money for final comments — confirms that details of the HSBC accounts in Geneva have given the country its biggest Black money trail. Citing this as an instance where the government has moved fast in tracing the coded account holders, the report states that the receipt resulted in information...

The EC strikes out at paid news, but what it has seen is just the tip of the iceberg It’s getting bigger by the day. If the sheer number of notices sent by the Election Commission to candidates and media houses is any indication, paid news is big news in the assembly elections in Punjab. By the time polling came to a close on January 30, the commission’s media monitoring committees...