The ongoing study for estimating unaccounted income/wealth within and outside the country would entail an expenditure of Rs 7.76 crore, the Parliament was informed on Tuesday.
This study is being conducted separately by three Government institutes — National Institute of Public Finance and Policy (NIPFP), National Institute of Financial Management (NIFM) and the National Council for Applied Economic Research (NCAER).
The Centre had signed memorandum of understanding with the three institutes in March this year and the study is expected to be completed in a period of 18 months. Indications are that the entire spend of Rs 7.76 crore would be borne by the Central Government, which had commissioned the study.