Mon, 21 May 2012 17:02:25 GMT

No estimate of black money abroad in Pranab's white paper

New Delhi: The government Monday released the much-awaited white paper on black money, which makes a strong pitch for setting up the Lokpal and Lokayuktas but carries no official estimate of the illicit money stashed by Indians abroad.

No estimate of black money abroad in Pranab's white paper

Finance Minister Pranab Mukherjee tabled the white paper in the Lok Sabha.

The paper carries no estimates on the quantum of money stashed abroad, but quotes figures released by different agencies.

"There are no reliable estimates of black money generation or accumulation, neither is there an accurate well-accepted methodology for making such estimation," the paper said.

It pointed out that among the estimates made so far, there is no uniformity, unanimity, or consensus about the best methodology or approach to be used for this purpose.

"There have also been wide variations in the figures reported, which further serves to highlight the limitations of the different methods adopted."

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