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In order to find out the quantum of black money parked by Indians in the country and abroad and to recommend ways to deal with the problem of black money Government had entrusted this work to three institutions in March, 2011.
The names of the institutes are, National Institute of Public Finance and Policy, National Institute of Financial Management and the National Council for Applied Economic Research. They were to submit their reports by September 2012. The study is likely to be completed by December 2012.
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