Finance Ministry declined to share black money assessment reports

October 23, 2016, 4:53 pm
 Finance Ministry declined to share black money assessment reports
BUSINESS NEWS
BUSINESS NEWS
 Finance Ministry declined to share black money assessment reports

Finance Ministry declined to share black money assessment reports

The Union Finance Ministry has declined to share reports submitted to it nearly three years ago on the quantum of black money held by Indians inside the country and abroad, saying it will cause breach of privilege of Parliament.

The reports were compiled after studies commissioned by the previous UPA government five years ago, which was conducted by Delhi-based National Institute of Public Finance and Policy (NIPFP), National Council of Applied Economic Research (NCAER) and National Institute of Financial Management (NIFM), Faridabad.

Replying to an RTI query filed by the Press Trust of India, the Ministry said study reports of NIPFP, NCAER and NIFM were received by the government on 30 December 2013, 18 July 2014 and 21 August 2014 respectively.

When asked about the copies of the reports and action taken on them, it said they are under examination by the government.

Information is exempt from disclosure under Section 8 (1) (c) of the RTI Act, 2005, as the study reports received from the three institutes are under examination of the government and the same along with the government’s response on these reports are yet to be taken to the Parliament through the Standing Committee on Finance
Finance Ministry 

The Section bars disclosure of information “which would cause a breach of privilege of Parliament or the state Legislature”.

There is at present no official assessment on the quantum of black money within the country and abroad.