No reliable estimates of black money: Pranab

 Finance Minister Pranab Mukherjee on Tuesday said that there is no reliable estimates of black money generated by Indians within and outside the country.

Various estimates of black money are unverifiable assumptions and approximations, says Mukherjee.

FM further said that they have detected undisclosed income of Rs 15,000 crore in the last 18 months.

India has started receiving information of Indians who have generated income outside the country under double taxation avoidance agreements.Government has appointed a group to look into the possibility of amnesty scheme to bring out black money, says Mukherjee.

Addressing the media, he said that no information can be made available unless there is legal framework and no sovereign country is going to share information on black money.

There is a way to get information when Income Tax authorities decide to prosecute offenders, says Mukherjee.