After 3 Years, Black Money Study is Incomplete

BANGALORE: The issue of black money has been in focus and the governments have been trying to check the menace. A detailed study of unaccounted income, wealth and profile was expected to finish within a span of 18 months which finished on September 21, 2012.

A study to assess the quantum of black money stashed in India and abroad is yet to be completed, over three years after it was commissioned by the previous UPA government. 

The last government, had on March 21, 2011, commissioned the study on estimation of unaccounted income or wealth both inside and outside the country. These studies were expected to be completed within 18 months time, which expired on September 21, 2012. 

The study is being conducted by Delhi-based National Institute of Public Finance and Policy (NIPFP) and National Council of Applied Economic Research (NCAER), and National Institute of Financial Management (NIFM), Faridabad, Haryana. 
"The studies are yet to be completed," the finance ministry said in reply to a RTI query filed by PTI. 

Further details cannot be made available at this point of time as the information is exempt under Section 8 (1) (c) of the RTI Act, 2005, since the report and action taken thereof is yet to be submitted to Parliament, it said. 

The section bars information "disclosure of which would cause a breach of privilege of Parliament or the State Legislature". 

The issue of black money has been in focus and the governments have been trying to check the menace.