People charged for Black Money to be tried under IT Act

Black_MoneyThe income tax department of India has started sending notices to those persons who are engaged in black money or money laundering. The notice is being sent by the directorate of criminal investigation as per the names received by the France of the persons having accounts in Swiss bank and having accounts in different countries. When it was asked with finance minister Pranab Mukherjee regarding the disclosure of names of these people then it was said that under the treaty with France the names will be disclosed only after the prosecution by the income tax department. The question whether the names includes politicians, industrialists, MPs? Remained unanswered.

 The persons charged will be tried under Income Tax, Act.

But the question arises how far will the governments step go? Are we going to recover that money of the tax payers of the country? Only time can answer these questions.

People Charged For Black Money to Be Tried Under IT Act

Report by Abhishek Kumar

Another reservation for the backward classes seems to be  on the way as justice minister Mukul Wasnik, propagated 20% reservation for the backward classes  in the purchase sector of government from micro and small enterprises (MSEs). It is mandatory,  now for the  union ministries and  the Public Sector Undertakings to make 20% of their annual purchase from the small scale scetor enterprises owned by the SC and The STs. Wasnik ,reportedly pushed for an 24% quota in proportion with SC/ST population, though the prime minister agreed for 20%,which was initially 10%.Therefore,roughly,round 4% of the annual purchase of the central bodies have to be done from the small scale sector enterprises owned by the backward classes.


The government,  as believed,roughly spends around 35,000 crores annually for these purchases out of which 7,000 crores will now be spended on these MSEs owned by SCs and STs. This provision for reservation will enforced mandatorarily on all the central governmental bodies after three years though the defence ministry will be exempted. Also,when questions were raised in the cabinet meeting that what happens in the case these MSEs owned by the backward classes doesn’t meet the qualified standards then it was clearly laid down that there will be no relaxation and also the presence of a review committee was  referred.


The ‘purchase quota’ seems to have worked reasonably well in the US where 30% of federal contracts prefrentially goes  to minorities such as African-Americans and Latinos. The dalit activists already seems to have cheered for this decision as the reservation for dalits in the private sector seems not to have been enforced yet.


Well,however this decision seems to another of the victory tricks used by the congress in the forthcoming  assembly polls where  it will face the Mayawati led BSP. Rahul Gandhi have already  played an aggressive dalit card to corner BSP in its home constituency. Congressmen are seeing this decision as to place the party in a better positione regarding dalit votes

Its potential seems to in significance in states like Punjab and uttarakhand who supposedly  have holds the highest dalit population in the country. These states go to polls in February before UP. I&B minister Ambika Soni was quoted saying that the decision was in accordance with  theCongress manifesto.

However,how this decision will be viewed by the other castes also hold a high number of MSEs and also how they will question this favorable behaviour SCs and the STs are a matter supposedly dependable on time as already in 2006,after the supreme court’s decision in increasing the reservations in the educational institutions for the OBCS or the other backward classes were largely protested.