No proposal for disclosure scheme for black money: Govt

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