In the first decision after assuming office, the Narendra Modi government on Tuesday constituted a special investigative team (SIT) to unearth black money.
It will be headed by former Supreme Court judge M.B. Shah and will include revenue secretary, Central Bureau of Investigation and Intelligence Bureau directors, Enforcement Directorate official, Central Board of Direct Taxes chairman and Reserve Bank of India deputy governor.
Former Supreme Court judge Arijit Pasayat will be the vice-chairman of the panel.
The Supreme Court had last week granted the government one week to constitute the special investigative team for monitoring of all black money cases.
"In the first Cabinet of the new government...in the light of the directions of the Supreme Court, we have constituted an SIT for unearthing black money... This was an important issue for us," Law and Telecom Minister Ravi Shankar Prasad told reporters after a one-and-a-half-hour long Cabinet meeting.
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