Kolkata: Mamata Banerjee will use tax-payers’ money to tackle a crisis spawned by a mega fraud. On Wednesday, the West Benal CM said the government would form a relief fund of Rs 500 crore “out of sympathy” to compensate lakhs of small investors who lost their money after the Saradha Group collapsed.
A 10% tax will be imposed on cigarettes to raise Rs 150 crore and the rest will be “gathered from other sources without putting pressure on the people”, Mamata said, adding that her government was playing “watchman to common people’s interests”. “We are sorry about the tax, but we must collect the money from somewhere. So, please smoke more frequently,” the CM said at a press meet at Writers’ Buildings, her jest taking reporters by surprise.
In a veiled defence of Trinamool MPs linked to the Saradha Group, Mamata said it’s not the “time to indulge in petty politics”. “Let’s help the poor people. It’s not fair to blame an individual journalist or nail him. There are others, but I won’t name them,” she said.
As if cautioning journalists, she said they would do well to remember that their organizations are dependent on advertisements. “There is an attempt to derail Bengal’s economy. Don’t be a party to that conspiracy. The government has to do a balancing act. We are not the authority that allows newspapers and channels to function. They need permission from the Centre,” she said.
The Trinamool chief said any party MP found guilty of violating the law will face punishment. “We shall punish the guilty.”
Mamata said that a gazette notification had been issued to set up an inquiry commission that will probe the Saradha collapse. Advertisements will soon be issued to announce the time and place where people can lodge their complaints. A special session of the assembly will be convened between April 29 and May 6 to introduce the new bill on protecting investors’ interests, the CM said. “We will try and get the old bill so that the new one can be introduced at the earliest. Once it is passed, we’ll have the power to seize the properties of unscrupulous firms and return money to investors,” said Mamata.
Cautioning people not to invest their hard-earned money without assessing a company’s credibility, she accused the Centre of making small savings unattractive. “The post-office is still the most reliable place to invest. But interest rates have been reduced. What will investors do?” she asked.
Centre denies role in Bengal scamNew Delhi: Countering CM Mamata Banerjee’s claim that it had a role in the Saradha chit fund scandal, the Centre has said state governments are responsible for regulating and registrations of such businesses.
Sources in the corporate affairs ministry said the funds are governed by the Chit Funds Act, 1982, under which businesses can be registered and regulated only by state governments. The clarification reflected the Centre’s desire to buffer itself from the political heat rising from chit fund scam. TNN
SMOKE SCREEN
West Bengal chief minister Mamata Banerjee will use taxpayers’ money to tackle a crisis perpetrated by a mega fraud. She says the government will form a relief fund of 500 crore, to compensate the lakhs of small investors who lost money in the Saradha Group collapse
A 10% tax on cigarettes will be imposed to raise 150 crore and the rest will be “gathered from other sources without putting pressure on the people”, says Mamata
Saradha chit fund chairman Sudipta Sen and two other officials were brought to Kolkata on Wednesday
The Centre says it has no role in governing the chit fund business.
Chit funds are governed by the Chit Funds Act, 1982. Under this Act, the chit fund businesses can be registered and regulated only by the respective state governments, said a source in the ministry of corporate affairs
- We are sorry about the tax, but we must collect the money from somewhere. So, please smoke more frequently | Mamata Banerjee, BENGAL CHIEF MINISTER
Courtesy:
TIMES NEWS NETWORK
http://epaper.timesofindia.com/Default/Client.asp?Daily=TOIM&showST=true&login=default&pub=TOI&Enter=true&Skin=TOINEW
A 10% tax will be imposed on cigarettes to raise Rs 150 crore and the rest will be “gathered from other sources without putting pressure on the people”, Mamata said, adding that her government was playing “watchman to common people’s interests”. “We are sorry about the tax, but we must collect the money from somewhere. So, please smoke more frequently,” the CM said at a press meet at Writers’ Buildings, her jest taking reporters by surprise.
In a veiled defence of Trinamool MPs linked to the Saradha Group, Mamata said it’s not the “time to indulge in petty politics”. “Let’s help the poor people. It’s not fair to blame an individual journalist or nail him. There are others, but I won’t name them,” she said.
As if cautioning journalists, she said they would do well to remember that their organizations are dependent on advertisements. “There is an attempt to derail Bengal’s economy. Don’t be a party to that conspiracy. The government has to do a balancing act. We are not the authority that allows newspapers and channels to function. They need permission from the Centre,” she said.
The Trinamool chief said any party MP found guilty of violating the law will face punishment. “We shall punish the guilty.”
Mamata said that a gazette notification had been issued to set up an inquiry commission that will probe the Saradha collapse. Advertisements will soon be issued to announce the time and place where people can lodge their complaints. A special session of the assembly will be convened between April 29 and May 6 to introduce the new bill on protecting investors’ interests, the CM said. “We will try and get the old bill so that the new one can be introduced at the earliest. Once it is passed, we’ll have the power to seize the properties of unscrupulous firms and return money to investors,” said Mamata.
Cautioning people not to invest their hard-earned money without assessing a company’s credibility, she accused the Centre of making small savings unattractive. “The post-office is still the most reliable place to invest. But interest rates have been reduced. What will investors do?” she asked.
Centre denies role in Bengal scamNew Delhi: Countering CM Mamata Banerjee’s claim that it had a role in the Saradha chit fund scandal, the Centre has said state governments are responsible for regulating and registrations of such businesses.
Sources in the corporate affairs ministry said the funds are governed by the Chit Funds Act, 1982, under which businesses can be registered and regulated only by state governments. The clarification reflected the Centre’s desire to buffer itself from the political heat rising from chit fund scam. TNN
SMOKE SCREEN
West Bengal chief minister Mamata Banerjee will use taxpayers’ money to tackle a crisis perpetrated by a mega fraud. She says the government will form a relief fund of 500 crore, to compensate the lakhs of small investors who lost money in the Saradha Group collapse
A 10% tax on cigarettes will be imposed to raise 150 crore and the rest will be “gathered from other sources without putting pressure on the people”, says Mamata
Saradha chit fund chairman Sudipta Sen and two other officials were brought to Kolkata on Wednesday
The Centre says it has no role in governing the chit fund business.
Chit funds are governed by the Chit Funds Act, 1982. Under this Act, the chit fund businesses can be registered and regulated only by the respective state governments, said a source in the ministry of corporate affairs
- We are sorry about the tax, but we must collect the money from somewhere. So, please smoke more frequently | Mamata Banerjee, BENGAL CHIEF MINISTER
Courtesy:
TIMES NEWS NETWORK
http://epaper.timesofindia.com/Default/Client.asp?Daily=TOIM&showST=true&login=default&pub=TOI&Enter=true&Skin=TOINEW
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