Open AccessWhite Paper on Black Money Government of India, Ministry of Finance, May 2012 Strategies for Curbing Generation of Black Money
Publication year - 2014
Publication title -
vision : journal of indian taxation
Language(s) - English
Resource type - Journals
eISSN - 2395-2571
pISSN - 2347-4475
DOI - 10.17492/vision.v1i2.2428
Subject(s) - parliament , white (mutation) , context (archaeology) , government (linguistics) , christian ministry , white paper , language change , political science , economics , public administration , politics , law , geography , art , biochemistry , chemistry , linguistics , philosophy , literature , archaeology , gene
Generation of black money and its stashing abroad in tax havens and offshore financial centres have dominated discussions and debate in public fora during the recent past. Members of Parliament, the Supreme Court of India and the public at large have unequivocally expressed concern on the issue, particularly after some reports suggested estimates of such unaccounted wealth being held abroad. After uproar in Parliament, Government of India came out with a White Paper on Black Money in May 2012. The White Paper presented the different facets of black money and its complex relationship with policy and administrative regime in the country. It also reflected upon the policy options and strategies that the Government had been pursuing in the context of recent initiatives, or need to take up in the near future, to address the issue of black money and corruption in public life. Extracts from the White Paper are presented below.