Lok Sabha passed the Finance Bill, 2012 in Parliament on Tuesday, and
Finance Minister promises to table White Paper on black money by the
end of the current session. Finance Minister Pranab Mukherjee speaking
about the Finance Bill in Parliament said that, "India cannot be allowed
to become a tax haven just to attract foreign investment." "Legislature
has right to amend laws to correct Supreme Court judgement. India not
inferior to any other country in respect of having retrospective changes
in tax laws," added the finance minister. Promising to table a White
Paper on black money by the end of the current session, the Minister
said, three institutions were assessing the estimates of such funds and
the reports are expected by July-August.
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