FM Nirmala Sitharaman To Address Revenue Intelligence Officers Tomorrow

FM Nirmala Sitharaman To Address Revenue Intelligence Officers Tomorrow

Finance minister Nirmala Sitharaman on Monday will address Revenue Intelligence officers during the 65th Directorate of Revenue Intelligence (DRI) foundation day event in the national capital.

The foundation day of DRI will be celebrated on Monday and Tuesday, according to the finance ministry. Sitharaman will inaugurate the two-day event along with Minister of State for Finance Pankaj Chaudhary, the finance ministry said in a statement.

On the occasion, the Finance Minister will also release the ‘Smuggling in India Report 2021-22’. The report will bring together the trends in the field of anti-smuggling and commercial fraud and DRI’s performance and experience over the last financial year, the ministry added.

DRI is the intelligence and enforcement agency on anti-smuggling matters under the aegis of Central Board of Indirect taxes & Customs (CBIC).

The event will witness a meeting of the ‘Regional Customs Enforcement Meeting (RCEM)’ to engage with partner Customs organisations and international agencies like World Customs Organisation (WCO), Interpol for enforcement-related issues would also be organised during the event.

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Around 22 Customs administrations covering the Asia-Pacific region along with WCO, Interpol, UN Office on Drugs and Crime (UNODC), and Regional Intelligence Liaison Office Asia Pacific (RILO AP) will be attending the event.

DRI came into existence on December 4, 1957 with the headquarter located in New Delhi. It has 12 zonal units, 35 regional units and 15 sub-regional units, with a working strength of about 800 officials.

Meanwhile, the preparations for Union Budget 2023 are underway in full swing. Sitharaman has recently concluded pre-Budget meetings for the forthcoming Budget 2023-24 from 21st to 28th November.

The government is likely to revamp the Insolvency and Bankruptcy Code (IBC), reported the publication Mint. The measure is expected to fix the weaknesses that are witnessed in bankruptcy proceedings and for faster resolution to distressed companies.

In this regard, the Ministry of Corporate Affairs has consulted judges, lenders, bankruptcy resolution professionals and other stakeholders and a set of formal proposals is awaited from them, the report added.

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