Civil Services' Surgicals

INFO-NUGGETS FINANCE Shamima   Siddiqui *                  The Government has adopted a five-pronged strategy to tackle the sensitive issue of Black Money – Joining the Global Crusade  Against  Black Money ·            Issues of tax evasion and Exchange of Information have been incorporated in G 20 communiqué due to efforts of India in the recent ministerial meetings. ·            India is playing a key role in Global Forum on Transfer Pricing and Exchange of Information for tax purpose, as Vice Chairman of Peer Review Group. ·            Joined FATF, Task Force on financial integrity and Economic Development and Eurasian Group. ·            India is par...

Finance Minister Pranab Mukherjee tabled a White Paper on black money in Lok Sabha, which makes a strong case for setting up Lokpal and Lokayuktas to deal with the menace of Black Money. The minister informed that there was no exact estimation of the black money generated in the country but refuted the reports that Indians held the largest deposits in Swiss banks by providing data. The White Paper suggests 4-pronged strategy to curb generation of black money which includes-