this new decision involves a Special Investigation Team (SIT) which is going to probe back all the black money which has secretly been stashed away in foreign countries
Prime Minister Narendra Modi takes charge and his newly formed government made its first decision today which involved a Special Investigation Team (SIT) which is going to probe back all the black money which has secretly been stashed away in foreign countries. This decision was finalized at the first meeting of the Union Cabinet which was chaired by Narendra Modi himself.
Don't Miss: The Hottest CES 2017 Highlights
After the cabinet meeting reached its end, the law and telecom minister Ravi Shankar Prasad said in a media conference that the SIT will have retired Supreme Court judge MB Shah as its head. He stated that "It is a matter of great satisfaction that we have constituted a SIT to bring back black money as per Supreme Court orders.”
This team investigating into the black money stored abroad away from prying eyes will constitute of Secretary revenue, deputy governor of the Reserve Bank of India, director of the Intelligence Bureau, director of the Enforcement Directorate, director of the Central Bureau of Investigation (CBI), chairman of the Central Board of Direct Taxes and director of the Research and Analysis Wing (RAW).
Prime Minister Narendra Modi addressed everyone saying that "The highest level of financial, revenue and economic management of the country are members of the SIT. This indicates the commitment of the new government of India. We are committed to fighting black money.”