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Indian cabinet approves bill to punish hiding of foreign assets
Shoaib Ur Rehman
17 Mar, 2015
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Copyright Reuters, 2015
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![](https://i.brecorder.com/images/2015/03/india-flag-400.jpg">NEW DELHI: India's cabinet approved a bill on Tuesday that would introduce a 10-year jail term for people convicted of illicitly stashing wealth abroad, a senior official said. </P><P>The move is viewed as a first step towards empowering tax authorities and meeting the commitment of Prime Minister Narendra Modi's 10-month-old government to enact a new law on 'black money', a key political challenge. Finance Minister Arun Jaitley announced the pledge as part of reform measures in last month's budget.</P><P>)
