17 March, New Delhi
Union Cabinet Tuesday cleared the black money bill, which proposes to provide powers to tax authorities to deal with illegal wealth stashed abroad.
Highly placed sources confirmed that a decision in this regard was taken at the cabinet meeting in New Delhi. The bill will be introduced in the current session of Parliament.
In his budget speech this year, Finance Minister Arun Jaitley had said the government will come out with a new law to effectively deal with the black money stashed abroad as well as generation of black money in the country.