The long-awaited White Paper on black money, which got tabled in Parliament on Monday, prescribed moderate tax rates and measures to rein in the parallel economy in real estate, the financial sector and stock markets. The paper neither gave any estimate of unaccounted money nor revealed any names that could be held responsible for its accumulation.Citing the examples of the US, UK, France and Germany, the paper said, "In the past, India has also opted for voluntary disclosure schemes. A similar scheme, targeted at black money stashed abroad, can be a one-time option in view of the increasing capacity of tax administration to access information from foreign jurisdiction."
