Govt committed to tackling menace of black money: President

New Delhi, Feb 21 (PTI) With the issue of black moneystashed abroad coming into focus, President Pratibha Patiltoday said the government stood committed to tackling themenace frontally.

"My government stands committed to tackling the menacefrontally. It requires diligent, sustained effort by all lawenforcement agencies including those of state governments,"she said addressing a joint sitting of members of Parliament,marking the start of the budget session.

She expressed concern over ill effects of black money,especially that was allegedly stashed away in foreign bankseither through evasion of taxes on income earned legitimatelyor through illegal activities.

Noting that the government has taken many steps tostrengthen the legal framework, the President said amulti-disciplinary study has been commissioned to go into itsramifications for national security and recommend a suitableframework to tackle it. (More) PTI MS SPG