The Finance Minister Pranab Mukherjee today tabled white paper in the Lok Sabha on government’s strategy to bring back black money stashed away abroad.
Earlier Pranab Mukherjee promising during the debate on the Finance Bill, to bring the White Paper in the Budget session had said, “I will try to give all relevant and possible information.
The White Paper is expected to provide information about the unaccounted money in India and abroad and the steps being taken by the government to deal with the menace.
The government has commissioned a study to figure out the quantum of black money stashed away abroad. This is expected to be completed by September.
However, there are also indications that the White Paper may not provide the estimates of the black money stashed overseas as the expert committees appointed by the government to assess the amount of unaccounted money are yet to submit their reports.
The White Paper is likely to contain the report of an official committee, set up in May 2011, under the chairmanship of Central Board of Direct Taxes (CBDT).
This was in addition to the independent studies being carried out by National Council of Applied Economic Research (NCAER), National Institute of Public Finance and Policy (NIPFP) and National Institute of Financial Management.
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