Black money estimated at $462 billion to $1.4 trillion: Pranab

By IANS,

New Delhi : Finance Minister Pranab Mukherjee Tuesday said the estimate of black money stashed abroad by Indians and Indian entities was estimated at between $462 billion and $1.4 trillion and every step within means was being taken to bring it back.

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He also made it clear that unless there are legal provisions in other countries, the two pacts India has been entering with them — double tax avoidance treaties and information exchange agreements — cannot help in revealing the names of perpetrators.

Then finance minister made the observations during a press conference to clarify the government’s stand on black money.