Government says it is examining the report of the committee to effectively deal with the menace of black money. The committee was constituted to look into the gaps in the legislative and administrative framework.

Addressing Chief Commissioners and Directors General of Central Board of Direct Taxes he asserted that several measures are already in place to curb the menace of black money, he said, the introduction of Benami transactions prohibition bill, 2011 will also help in dealing with the menace.

Dismissing reports that growth rate will go below 6.5 per cent this fiscal, he expressed hope that the economy will clock around 7 per cent growth.

Mr. Mukherjee said, factors like reversal of interest rate cycle, turning around of mining sector growth and quarterly investment growth rate would help in achieving the target. He said, prediction of a normal monsoon and decline in international oil prices will also help growth.