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| India vows tough punishments to bring home 'black money' | |  India said it plans tougher punishments including jail terms of up to 10 years for those who hide undeclared cash outside the country and for the banks and advisers who help them, as it tries to bring back illicit billions stashed abroad. In his budget address on Saturday, Finance Minister Arun Jaitley said the government would introduce the changes in a new law during the current session of parliament, which will also allow enforcement agencies to seize assets held abroad. "The problems of poverty and inequity cannot be eliminated unless generation of black money and its concealment is dealt with effectively and forcefully." Illegal deposits abroad cost India billions of dollars in lost revenue and Prime Minister Narendra Modi's government has promised to change laws and enact new measures to bring back such funds, known in India as 'black money'. When assets abroad cannot be forfeited, the new rules could allow the government to confiscate equivalent assets in India.
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| No big bang, but budget goes for growth, investment | |  By Rajesh Kumar Singh and Malini Menon NEW DELHI (Reuters) - Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide election victory last May, Jaitley said India's economy was about to take off. Modi tweeted that the budget would "further reignite our growth engine". The budget was a test of the nationalist premier's willingness to reform a $2 trillion economy with a bloated public sector and weak private investment, obstacles to delivering on his pledge to voters of "better days".
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| Russian opposition leader Nemtsov shot dead, police hunt killers | |  By Alexander Winning and Timothy Heritage MOSCOW (Reuters) - Boris Nemtsov, an outspoken critic of President Vladimir Putin and Russia's role in the Ukraine crisis, was shot dead steps from the Kremlin in a murder that underscored the risks taken by the Russian opposition. Nemtsov, 55, was shot four times in the back by assailants in a white car as he walked across a bridge over the Moskva River in central Moscow with a Ukrainian woman, who was unhurt, just before midnight on Friday, police said. A former deputy prime minister who had feared he would be murdered, Nemtsov was the most prominent opposition figure killed in Putin's 15-year-rule.
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| Lupita Nyong'o's $150,000 Oscar gown returned by thief via TMZ | |  The $150,000 Oscar gown worn by actress Lupita Nyong'o that was stolen two days ago was returned on Friday by the thief, who tipped off celebrity news site TMZ.com after learning the pearls on the dress were fake, according to officials and the website. TMZ said the thief took the Calvin Klein dress from Nyong'o's hotel room on Wednesday after finding the door ajar. Los Angeles County Sheriff's Department Lieutenant Michael White told reporters at a Friday news conference that they received a call around 3 p.m. local time from a media outlet who reported hearing from an anonymous caller that the dress had been returned to the London Hotel. The media source said the thief removed two pearls from the dress and took them to the Garment District in downtown Los Angeles where they were told they were not real, according to White.
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| Mexico captures most wanted drug kingpin, former teacher 'La Tuta' | |  By Anahi Rama and Lizbeth Diaz MEXICO CITY (Reuters) - Mexico captured its most wanted drug lord on Friday, former primary school teacher Servando "La Tuta" Gomez, delivering a boost to a government battered by gang violence. The 49-year-old gang boss was the prime target of President Enrique Peña Nieto's effort to regain control of Michoacan, a western state wracked by clashes between Gomez's Knights Templar cartel and armed vigilantes trying to oust them. Peña Nieto has been trying to quell public outrage in Mexico after the late September abduction and apparent massacre of 43 trainee teachers by corrupt police in league with gang members.
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