
| NEWS NOTES Mopping Up Black Money
Staff Reporter T he West Bengal Government has demanded the right to levy Personal Income Tax to recover black money from the rich.The state government made this demand during a meeting with representatives of the 11th Finance Commission last week.A suggestion has also been made to rationalise the tax structure.The previous Finance Commissions recommendations to distribute 29 per cent of the tax generated has been made anfractuous and redundant and chief minister Jyoti Basu made it clear that that the amount had to be raised to 33.5 per cent to be increased to 50 per cent later.Basu said that there should be better coordination between the states and the Centre in the efforts to mop up black money and that a part of the recovered amount be distributed among the states. The state finance minister, Dr Asim Dasgupta, was present at the meeting where the Commission was represented by the its chairman A.M.Khusroo. Other ministers present included the panchayat minister, Suryakanta Mishra, PWD minister Ashoke Bhattacharya and irrigation minister Debabrate Banerjee. More talks are in the offing in Delhi on this issue, said Dr Dasgupta .The minister said that the state government had taken a major initiative in the recovery of black money and that it expected cooperation from the centre in this regard. |
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