Lok Sabha passes finance bill; Chidambaram takes tax evaders to task

The finance bill giving effect to the financial proposals for 1997-98 was adopted by the Lok Sabha by a voice vote on Friday despite reservations expressed by the Communist Party of India (Marxist).

Except the BJP, no party pressed for amendments to the finance bill.

Roop Chand Pal and Basudev Acharya of the CPI (M) regretted that none of the amendments proposed by the party had been accepted. These included restoration of the collective bargaining power of the insurance employees and scrapping the move to open up the health insurance sector to the private sector.

Earlier replying to the debate, the finance minister said those found guilty of tax evasion would not be spared. The voluntary disclosure scheme was the ''last chance'' for tax evaders to ''come clean.''

Talking a tough stance, Chidambaram threatened to come down heavily on tax evaders.

Chidambaram said penalty would be imposed on the tax evaders. ''Behind the velvet glove, there is a firm fist. I will come down very, very heavily on tax evaders and go to the extent of launching prosecution.''

UNI

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