The Government on Tuesday said there is no official estimation of black money in the country, however, it has taken several concrete steps to crack down on illicit funds.
“There is no official estimation of black money in the country,” Minister of State for Finance Anurag Singh Thakur said in a written reply in Parliament.
In 2014, the BJP-led government came to power with a thumping majority and one of the key poll promised was to bring back black money stashed abroad. Also, one of the key objectives enlisted by Prime Minister Narendra Modi in the November 8, 2016, high-value note ban or demonetisation was to curb the ill-gotten money.
Thakur was responding to a query on estimation of total black money in the country and the reasons behind such amount generation.
