COMMUNIQUÉ OF CPI (M) CENTRAL COMMITTEE AFTER ITS MEETING ON 04-03-2011 AND 05-03-2011
The measures announced in the Budget 2011 on tackling black money and illicit fund flows are grossly inadequate. The government must launch a drive to unearth black money, especially those stashed in Swiss banks and other offshore tax havens. The Mauritius route must be plugged by scrapping the Double Taxation Avoidance Agreement with Mauritius. Participatory notes used by the foreign institutional investors (FIIs) must be prohibited.
