Govt explores scheme to bring back unaccounted overseas assets

The government on Tuesday said a committee has been formed to examine the possibility of a scheme to enable people to disclose information about unaccounted assets and income outside India.

Last Updated: Mar 15, 2011, 18:19 PM IST

New Delhi: The government on Tuesday said a
committee has been formed to examine the possibility of a
scheme to enable people to disclose information about
unaccounted assets and income outside India.

"The government has constituted a committee to examine
the feasibility of brining a suitable scheme for disclosure of
information by persons about undisclosed assets and income
outside India," Minister of State for Finance SS
Palanimanickam told the Rajya Sabha in a written reply.

The government has decided to get a fresh study conducted
on unaccounted income and wealth both inside and outside the
country bringing out the nature of activities engendering
money laundering and its ramifications on national security,
he said.

"The study will be conducted by designated nodal agencies
with inputs from various ministries and departments,"
Palanimanickam added.

PTI