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No proposal to study extent to black money: Govt

Written by: Staff

New Delhi, Mar 17 (UNI) The Ministry of Finance has not undertaken any study to estimate the amount of black money in the country after 1985, the Lok Sabha was told today.

Presently, there is no proposal in the Ministry to conduct a fresh study for estimating the amount of black money in the circulation in the country, Minister of State for Finance S S Palanimanickam said in a written answer.

He said there was no formal estimate of the amount of black money in the country at present. However, at the instance of the Government, the National Institute of Public Finance and Policy (NIPEP) had in 1985 attempted an estimate of black money in the country.

According to the report of the NIPEP, the total amount of black money in the country during 1983-84 was estimated at between Rs 31,584 crore and Rs 36,786 crore, he said.


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