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Black money: Three reports commissioned by UPA regime under finance ministry scanner

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Black money: Three reports commissioned by UPA regime under finance ministry scanner

[vc_row][vc_column][vc_column_text]US think tank, Global Financial Integrity (GFI) study estimates that USD 770 million in black money was circulated into India between 2005 and 2014

The Union finance ministry has stated that it is examining three reports of black money held by Indians inside the country and abroad. Reportedly, the reports under the ministry’s scanner were commissioned by the previous UPA regime and were submitted more than three years ago.

The studies conducted by the Delhi-based National Institute of Public Finance and Policy (NIPFP), National Council of Applied Economic Research (NCAER) and the National Institute of Financial Management (NIFM) were submitted to the government on December 30, 2013, July 18, 2014, and August 21, 2014, respectively.

Following an RTI filed by a PTI correspondent, the Finance Ministry had replied that the detailed information on the findings of the report can’t be disclosed as their scrutiny is still on. In its reply the Finance Ministry said, “Information is exempt from disclosure under Section 8 (1) (c) of the RTI Act, 2005, as the study reports received from the three institutes are under examination of the government and the same along with the government’s response on these reports are yet to be taken to the Parliament through the Standing Committee on Finance.”

Under the section 8 (1) (C) of the RTI act disclosure of the information would “cause a breach of privilege of Parliament or the State Legislature”. The reports had been submitted to the Standing Committee of Finance.

An American think tank, Global Financial Integrity (GFI), has mentioned in a study that an estimated USD 770 million in black money was circulated into India between 2005 and 2014.

While directing studies on the reports in 2011, the finance ministry had said, “The issue of black money has attracted a lot of public and media attention in the recent past. So far, there are no reliable estimates of black money generated and held within and outside the country. Government has been seized of the matter and has, therefore, commissioned these institutions to get an estimation and sense of the quantum of illicit fund generated and held within and outside the country.”[/vc_column_text][/vc_column][/vc_row]

India News

MDMK ends nine-year alliance with DMK, keeps options open on joining Vijay-led front

MDMK has formally severed ties with the DMK after nine years, while refraining from immediately joining Chief Minister Joseph Vijay’s alliance.

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The Marumalarchi Dravida Munnetra Kazhagam (MDMK), led by Vaiko, has formally ended its nine-year association with the Dravida Munnetra Kazhagam (DMK), marking a significant shift in Tamil Nadu’s political landscape. The decision was taken during the party’s general council meeting held on Friday.

MDMK cites attempts to weaken party

In resolutions adopted at the meeting, the MDMK alleged that efforts had been made to weaken the party within the DMK-led alliance, making it difficult to continue the association. The party also claimed there were attempts aimed at facilitating an AIADMK return to power, allegations that were rejected by the DMK.

Although political observers have speculated about the MDMK moving closer to Chief Minister Joseph Vijay’s Tamilaga Vettri Kazhagam (TVK), the party did not formally announce any alliance with the ruling front. Instead, it said decisions regarding future political alignments would be taken at an appropriate time.

Warm remarks for Vijay government fuel speculation

The MDMK’s resolutions welcomed the state government’s functioning under Chief Minister Joseph Vijay and urged it to remain committed to key promises, including ensuring corruption-free governance and safeguarding Tamil Nadu’s interests on issues such as the Mekedatu dam project. These remarks have intensified speculation about a possible future understanding between the two sides.

The development comes amid broader political realignments in Tamil Nadu following the 2026 Assembly elections, with several parties reassessing their alliances in the changed political scenario.

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India News

Champat Rai, Anil Mishra resign from Ram Temple Trust amid donation embezzlement probe

Top officials of the Shri Ram Janmabhoomi Teerth Kshetra Trust have resigned as investigators continue probing alleged embezzlement of donations at the Ayodhya Ram Temple.

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Senior functionaries of the Shri Ram Janmabhoomi Teerth Kshetra Trust, Champat Rai and Anil Mishra, have resigned from their respective positions amid the ongoing investigation into the alleged theft and embezzlement of donations received at the Ram Temple in Ayodhya.

According to reports, Champat Rai stepped down from his role as the Trust’s general secretary, while trustee Anil Mishra also resigned from his responsibilities linked to overseeing the counting of cash offerings. The developments come as the probe into alleged irregularities in handling temple donations continues to expand.

The resignations reportedly followed the registration of an FIR in connection with the alleged misappropriation of cash and valuables donated by devotees. Several individuals associated with the counting process have already been arrested, and investigators have recovered substantial amounts of cash during the course of the probe.

Sources indicated that the resignations were offered to facilitate an impartial investigation into the matter. However, there has been no official statement from the Trust detailing whether the resignations have been formally accepted.

The alleged embezzlement case has triggered political reactions, with opposition parties demanding a thorough and transparent investigation into the handling of temple donations. The issue has also raised questions regarding internal oversight and security mechanisms governing donation management at the temple.

Authorities continue to investigate the matter, while further action is expected based on the findings of the ongoing probe.

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Education

Maharashtra TET 2026 postponed a day before exam after alleged paper leak, three arrested

Maharashtra postponed the MAHA TET 2026 examination after an alleged paper leak came to light in Thane district, leading to the arrest of three individuals

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The Maharashtra Teacher Eligibility Test (MAHA TET) 2026, scheduled to be conducted on June 28, has been postponed following allegations of a question paper leak. The decision was announced after police uncovered material suspected to be linked to the examination during a raid in Thane district.

Authorities said the suspected leak came to light during an early morning operation in Bhiwandi, where individuals were allegedly found in possession of question papers that matched the actual examination material. Three people have been arrested in connection with the case, while further investigations are underway.

The Maharashtra State Council of Examination (MSCE) subsequently decided to postpone the examination to maintain the integrity and transparency of the recruitment process. Officials stated that a fresh date for the examination will be announced later. Candidates will be required to download new admit cards once the revised schedule is released.

According to officials, more than six lakh candidates were expected to appear for the examination across 1,700-plus centres in the state. The postponement, announced just a day before the test, has affected thousands of aspirants preparing for teaching positions in Maharashtra schools.

The incident has once again raised concerns over the security of competitive examinations in the state, with opposition parties criticising the government over recurring allegations of paper leaks.

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