You are here: Home » Budget » News » Economy
Business Standard

Budget: Govt allocates Rs 8.93 crore for SIT on black money

Funds will be used to setup the infrastructure and logistics for the SIT

Press Trust of India  |  New Delhi 

Rupees image via Shutterstock.com

Government has sanctioned a of Rs 8.93 crore for the infrastructure and logistical requirements of the Special Investigation Team (SIT) set up to combat the menace of black money in the country.

The allocation was part of the 2014-15 presented by Finance Minister Arun Jaitely yesterday.

"The funds will be used to setup the infrastructure and logistics for the The expenditure would be made by the Department of Revenue," a senior official said.

The SIT, headed by former Supreme Court Judge and Vice Chairman Arijit Pasayat has 11 members in the panel who are the heads of a number of investigative and enforcement agencies of the country.

After the first meeting of the last month, the government had said the detailed modalities of proceeding further with the Supreme Court mandate were discussed and the road map decided.

Jaitely in his speech had yesterday said, "We also must address fully the problem of black money which is curse of our

First Published: Fri, July 11 2014. 13:16 IST
RECOMMENDED FOR YOU