New Delhi: No official estimation of the amount of black money within the country and stashed abroad is available, as per finance ministry sources. According to sources, the government has undertaken several steps to curb generation of black money in the country, including setting up of a Special Investigating System, enacting a law regarding undisclosed foreign income and assets and amending the Double Taxation Avoidance Agreement between India and Mauritius and India and Cyprus.
Other measures include encouraging the use of non-cash and digital payments, amending the Benami Transactions Act and implementing the Income declaration Scheme 2016 , the sources said. In the year 2013-14, 5131 mpcs of Rs 100 denomination were supplied by the presses to RBI, 5464 mpcs were supplied in the year 2014-15 and 4910 mpcs of Rs 100 denomination were supplied by the presses in the year 2015-16.
In the year 2013-14, 3393 mpcs of Rs 500 denomination were supplied by the presses to RBI, 5018 mpcs of 500 currency notes were supplied in the yer 2014-15 and 4291 mpcs were supplied by the presses to RBI in the year 2015-16. But 1,000 Re note was less in circulation as compared to Rs 500 and Rs 100 currency notes. Just 818 mpcs of Rs 1,000 denomination were supplied by the presses to RBI in the year 2013-14, , 1052 mpcs of RS 1000 denomination were in circulation in the year 2014-15 and 977 mpcs of Rs 1000 denomination were supplied by the presses to RBI in the year 2015-16. (UNI)
