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

Tags: News
Government has sanctioned a budget 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 budget 2014-15 presented by Finance Minister Arun Jaitely yesterday.

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

The SIT, headed by former Supreme Court Judge M B Shah 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 SIT 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 budget speech had yesterday said, "We also must address fully the problem of black money which is curse of our economy."

EDITORIAL OF THE DAY

  • Next two years could be a turning point for India that’s on the cusp of a big change

    After three years in office, prime minister Narendra Modi’s performance and acceptability ratings continue to be high even as the ruling BJP-led Nat

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Cut & Thrust: Islam’s dance of death

It is a short walk between victim hood and blood ...

Susan Visvanathan

Landed in trouble

The British always required get away places. Shimla is the ...

Zehra Naqvi

Mindful meditation in everyday life

Amid the vast multitude of tasks and huge amounts of ...