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Government takes various steps in last two years to curb the menace of Black Money both within and outside the country.

News and Press Release - Dated:- 10-5-2016 - The present Government has taken various decisions and steps to curb the menace of black money both within and outside the country in last two years. Some of the major decisions and actions taken in this regard are given below: 1. Sustained steps taken for curbing black money:- (a) A new Black Money Act has been enacted with strict penalty provisions. (b) Special Investigation Team has been constituted which is chaired by ex-Supreme Court Judge Justic .....

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(32% increase over corresponding two previous years). (e) Prosecution has been launched in 1466 cases as against 1169 cases in the previous two years (25% increase). 2. Amendments made in Prevention of Money-laundering Act, 2002, vide Finance Act, 2015 : The definition of proceeds of crime under PMLA has been amended to enable attachment and confiscation of equivalent asset in India where the asset located abroad cannot be forfeited. Section 8(8) has been inserted in PMLA providing for restoring .....

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