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No proposal for disclosure scheme for black money: Govt

Last Updated: Friday, August 7, 2009 - 23:34

New Delhi: The government is not mulling over
any proposal currently to offer disclosure scheme for black
money, Parliament was informed on Friday.

"...There is no proposal at present for bringing a
disclosure scheme for black money," Minister of state for
Finance S S Palanimanickam told Lok Sabha in a written reply.

The then Central Vigilance Commissioner in a paper, in
2001, suggested a three phase strategy to tackle black
money--strenghtening of legal framework, giving a window of
opportunity to black money hoarders to come out in open after
paying appropriate income tax and ruthless and widespread
application of legal framework, Palanimanickam said.

To another question, Minister of state for Finance Namo
Narain Meena said up to June this year, four fake pieces of Rs
500 currency notes have come to the notice of RBI.

Instructions have been issued to banks to disburse only
sorted and genuine notes over their counters and through ATMs
and to have adequate checks when the ATMs are replenished by
outside agencies, he said.

Bureau Report

First Published: Friday, August 7, 2009 - 23:34
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