May 29, 2011 1:30 PM

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Black Money: Govt commissions fresh study

Centre has commissioned an in-depth and fresh study, engaging three top national level institutions for estimation of unaccounted income and wealth held within and outside India. The study which began in March this year will be completed within a period of 18 months. According to a finance ministry release ,this study will bring out the nature of activities that encourage money laundering and its ramifications on national security. As already reported, the Government has constituted a Committee to examine ways to strengthen laws to curb the generation of black money in the country, its illegal transfer abroad and its recovery. The Nine-Member committee will be headed by the Chairman of the Central Board of Direct Taxes Sudhir Chandra. The study is being undertaken by National Institute of Public Finance and Policy, National Institute of Financial Management and National Council of Applied Economic Research . Our correspondent reports , it will also suggest ways and means for detection and prevention of unaccounted money and bringing the same into the mainstream of economy besides identifying important sectors of economy in which unaccounted money is generated.

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