Black money: HSBC Indian list just doubled 1195 names; balance at Rs 25,420 cr

Black money: HSBC Indian list just doubled 1195 names; balance at Rs 25,420 cr

NEWSPAPERS HEADLINES:

    The first meeting of the NITI Aayog's Governing Council which was chaired by Prime Minister Narendra Modi and attended by state chief ministers in Delhi, is extensively covered by the papers. The Statesman writes - the Prime Minister called upon all Chief Ministers to work with the Centre as 'Team India' to chart a common course to progress and prosperity.

    The Centre clearing the air on the understanding reached with the US recently on the Civil Liability for Nuclear Damage Act , is another prominent story. The Asian Age writes - under the agreement the foreign suppliers of equipment for nuclear reactors cannot be sued by the victims in case of a nuclear accident, but the Suppliers can be held liable by the Operator, who has the right of recourse in accordence with  the contract signed between the operator and the supplier.

    In an exclusive, The Indian Express reports that as part of a global agreement, a trove of secret documents from HSBC's Swiss private banking arm has revealed the names of 1,195 Indian account holders and their balances for the year 2006-07, roughly doubling the number that was given by French authorities in 2011. This is expected to significantly widen the scale and scope of the ongoing probe by the Supreme Court appointed SIT.

    "Individuals, companies may get some tax relief in budget", is a top headline in the Times of India. As the Government is keen to restart the investment cycle and deepen the manufacturing sector as part of it Make in India Campaign, the 2015-16 Budget is likely to include major tax relief for individuals to boost savings and for companies to encourage them to invest in the country.