Govt explores scheme to bring back unaccounted overseas assets

Govt explores scheme to bring back unaccounted overseas assets

New Delhi: The government on Tuesday said a committee has been formed to examine the possibility of a scheme to enable people to disclose information about unaccounted assets and income outside India.

“The government has constituted a committee to examine the feasibility of brining a suitable scheme for disclosure of information by persons about undisclosed assets and income outside India," minister of state for finance S S Palanimanickam told the Rajya Sabha or the Upper House in a written reply.

The government has decided to get a fresh study conducted on unaccounted income and wealth both inside and outside the country bringing out the nature of activities engendering money laundering and its ramifications on national security, he said.

“The study will be conducted by designated nodal agencies with inputs from various ministries and departments," Palanimanickam added.

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