Finance minister Pranab Mukherjee on Friday said two groups are looking into the different aspects of black money, including an amnesty scheme to unearth unaccounted wealth. While an expert group would advise FM on the feasibility of an amnesty scheme to encourage the people to bring back unaccounted money parked in Swiss bank and other tax havens, an inter-ministerial group would provide an estimate of black money and suggest ways for curbing its generation.
Sushma Nath may take charge as finance secy
Expenditure secretary Sushama Nath may take charge as the finance secretary after the incumbent Ashok Chawla retires at the end of this month while R Gopalan, the financial services secretary, could take charge of the department of economic affairs which Chawla was heading. Nath is a 1974-batch Madhya Pradesh cadre Indian Administrative Services (IAS) officer.
Wage revision to cost Rs 60 cr annually: BEML
BEML has said it has recently concluded a 10-year wage settlement with its employees for a wage revision that would cost the company Rs 60 crore annually. The settlement includes enhancement of life insurance coverage and post retirement medical insurance while the increase in the threshold of standard man hours based on incentives is expected to fetch the company an additional Rs 108 crore by production value.