7.12.12

Parthasarathy Shome appointed adviser


The government has appointed tax expert Parthasarathy Shome as adviser to finance minister P Chidambaram with the rank of minister of state, marking his return to North Block after nearly five years.
Shome, who was an adviser to Chidambaram during UPA-I, was the brain behind the fringe benefit tax and the banking cash transaction tax on cash withdrawals aimed at checking black money that came under sharp criticism besides the securities transaction tax. For the past several months, he has been associated with getting investor confidence back and has headed the committees on general antiavoidance rules (GAAR) and the retrospective amendments, two controversial legislative initiatives taken by Pranab Mukherjee in the last Budget.

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