The finance minister Pranab Mukherjee has submitted a white paper on black money in Lok Sabha on Monday. The white paper contained information of black money that had been allegedly stored in Swiss banks. This white paper is reportedly presented in the wake of the opposition parties crying foul that the Centre has been beating around the bush on black money issue. Even Parliament was earlier stalled n number of times on black money issue.

The sources said that the white paper doesn’t contain the information on the estimation of black money in foreign countries since the expert committees that were appointed by the Centre haven’t submitted their reports so far.

It may be recalled that three independent study groups were constituted to look into the complete information of black money in May 2011. The three independent groups are National Council of Applied Economic Research, National Institute of Public Finance and Policy and National Institute of Financial Management. Notably, these three groups were set up under the chairmanship of Central Board of Direct Taxes.

Also, Pranab Mukherjee told a few days back in Loksabha that he cannot give information on black money as the three independent groups didn’t submit the reports.   (Phani)