"There is no proposal to publish any white paper on black money," said Finance Minister Pranab Mukherjee in the Rajya Sabha.White papers are generally issued by the government to set up a different policy or to order action on issues of current concern.
Meanwhile, the government has commissioned three national level institutions to study on black money. The institutions are the National Institute of Public Finance and Policy (NIPFP), National Council of Applied Economic Research (NCAER), and National Institute of Financial Management (NIFM). They were given a deadline of 18 month to complete the study on black money.
The government has also formed a committee headed by the chairman of the Central Board of Direct Taxes (CBDT) to suggest straightening of laws to "curb production of black money in India,its illegal transfer abroad and its recovery", as said the by Finance Minister.
He also added that the committee has been given six month time to examine all means of illegal money generation sources. The committee will also examine the applicability of money which are generated illegally as national assets, legislating laws for distraint and recovery of those assets and making terms for exemplary punishment of the offenders.