A parliamentary panel of the previous Lok Sabha headed by Congress leader M. Veerappa Moily has said it is difficult to provide a credible estimate of the black money in India and of Indians abroad.The panel, whose preliminary report was tabled in the Lok Sabha on Monday, also called upon the Finance Ministry to make efforts with greater vigour to unearth black money in and outside the country."The unaccounted income and wealth inside and outside the country do not appear amenable to credible estimation in the context of India," the Standing Committee on Finance (2018-19) said.It said a study on black money was conducted by National Institute of Public Finance and Policy (NIPFP), National Council of Applied Economic Research (NCAER) and National Institute of Financial Management (NIFM) following recommendations made by the parliamentary panel in 2009 to conduct a thorough assessment of unaccounted wealth.It said the three institutions found real estate, mining, pharmaceuticals, pan ...
