AMN /
Government today said it has no official estimate of percentage of black money held in the country in cash. This was stated by Minister of State for Finance Santosh Gangwar in a written reply in the Rajya Sabha. He was asked whether it is a fact that six percent of black money in India was in cash, as of November last year.
In reply to another question, Mr Gangwar said, 648 disclosures involving undisclosed foreign assets of 4164 crore rupees were made under the Black Money Act till 30th September 2015. A total of 2476 crore rupees have been collected as tax and penalty from the declarations. He said the government has taken several measures to tackle the problem particularly black money stashed abroad.