Those found guilty of indulging or aiding in money laundering activities or evading tax will not be spared, said the Economic Affairs Secretary Shaktikanta Das on Friday.
Old Rs 500 notes at petrol pumps and for airline tickets will be accepted till Friday (December 2) as against December 15 announced earlier.
The issues of draft model laws for implementation of the new GST regime from April 2017 and its jurisdiction will be form the forefront of discussion in the GST Council meet at the two-day meeting starting Friday.
Finance Minister Arun Jaitley on Thursday said that goods and services tax (GST) and demonetisation will be 'game changers' for Indian economy.
Hit hard by demonetisation move, manufacturing growth decelerated sharply in November as cash crunch slowed down domestic consumption, production of goods and new orders, even as subdued inflationary pressure raised hopes for a rate cut by RBI, a monthly survey showed Thursday.
The price of subsidised cooking gas (LPG) was Thursday hiked by Rs 2.07 per cylinder, the seventh increase in rates in 6 months, while that of jet fuel was cut by 3.7 percent in step with global trends.
India remained the fastest growing major economy with its GDP accelerating to 7.3 percent in the September quarter, pushed mainly by farm output, although the momentum may be hit in the coming months by the impact of demonetisation.
Officials said Enforcement Directorate teams seized about 20 lakh cash in old currency, about Rs 1 crore in new notes and transaction papers of about Rs 50 lakh foreign exchange at the end of operations.
India remained the fastest growing major economy with its GDP accelerating to 7.3 percent in the September quarter, pushed mainly by farm output.
GDP growth numbers for the first half of the current fiscal have revealed a good and consistent performance but lot of uncertainty remains on the outlook for the second half, Chief Economic Adviser Arvind Subramanian said Wednesday.
In a move to attract more foreigners and boost trade in the country, the Union Cabinet on Wednesday approved the new liberalised visa policy for foreigners.
Petrol price was on Wednesday hiked by 13 paise a litre, but that of diesel was cut by 12 paise per litre in line with international trends.
Infrastructure sector recorded a growth rate of 6.6 percent in October -- the highest in last six months -- on the back of impressive performance by steel and refinery products.
Showing signs of recovery, India's economic growth rate improved to 7.3 percent in July-September compared to 7.1 percent in April-June.
India's fiscal deficit during the seven months to October was Rs 4.24 trillion (USD 61.91 billion), or 79.3 percent of the budgeted target for the fiscal year ending in March 2017, government data showed on Wednesday.
The Enforcement Directorate (ED) has conducted searches at over 40 locations across the country to check black money with hawala operators, others.
Niti Aayog Vice-Chairman Arvind Panagariya on Wednesday said the government's demonetisation drive will leave a "very positive" impact on the economy in the long term as more people will move towards digital transactions.
The Commerce Ministry wants there should be "fair valuation" of rupee keeping in view the global environment as it has a bearing on exports, Parliament was informed Wednesday.
Nudging retailers such as malls and shop owners to deposit their daily collections with banks, RBI has said they would be allowed to withdraw the deposited sum in Rs 2,000 and Rs 500 notes, irrespective of the existing withdrawal limits.