Business Standard

Black hole

Related News

How did the Director of the Central Bureau of Investigation (CBI), the country’s premier investigative agency, know that black money worth $500 billion is stashed in foreign bank accounts? Through some intelligent detection work? No, just a conscientious reading of news agency reports, it turns out. In reply to a question from BJP’s Venkaiah Naidu, Junior Minister for Finance said the information had been gleaned from a Reuters report on Supreme Court proceedings. The Reuters report, the minister went on to explain, had mentioned a range of $500 billion to $1.4 trillion as a finding of a government panel in 2009 and the Director had taken the “base figure” to be “illustrative of the problem”. So much black money is hidden abroad? Palanimanickam admitted “there is no authentic estimate”. The government is waiting for the results of a study it has commissioned from three think tanks on the subject, which is due in September this year.

Read more on:   
|
|
|

Read More

Last mile effort

There’s a settled notion that the government cannot work overtime to achieve targets, but this week the National Highways Authority of India (NHAI) ...

Advertisements

Quick Links

Financial X-Ray Rss icon

Analysts bullish on Tata Motors despite JLR blip

JLR volumes could hit million units by 2019, stock trading at discount to other premium automakers

Concerns for J&K Bank over near-term growth

Incremental restructuring likely to rise, loan disbursement to be slower after the floods

Back to Top