1963:The Loknathan panel estimated that for 10 agricultural commodities in Andhra Pradesh between 1960 and '62, some 68 per cent of the turnover escaped tax.
1963:The Loknathan panel estimated that for 10 agricultural commodities in Andhra Pradesh between 1960 and '62, some 68 per cent of the turnover escaped tax.
1964:The Santhanam Committee identified the "large armoury of regulations, controls, licenses and permits" as providing new opportunities for corruption.
1974:The Venkatappiah Committee felt
1974:The Uttar Pradesh Taxation Enquiry Committee estimated that sales tax receipts in 1965-66 and 1969-70 were only 42 and 60 per cent, respectively, of the estimated tax potential.
1976: A report of Kerala's Committee on Commodity Taxation estimated that tax realisation from coconut and copra were often only a third or so of the estimated tax potential.
1978: NCAER estimated that Rs 840 crore of black income (in the form of scarcity pre-mia) was reaped in just six commodities—urea, cement, tyres, paper, vanaspati and steel—from 1965-66 to 1974-75.
1981-84: NIPFP found evidence of large-scale tax evasion in motor parts, copper, plastics, cotton fabrics.
1987-88: In his book Black Income in India, Suraj B. Gupta estimated black income to be Rs 294,408 crore, or 50.71 per cent of GDP. The break-up:
1996:The Berlin-based Transparency
1997: Dr Pierre Helg, deputy chef de mission of the Swiss Embassy in New Delhi, quoted unofficial estimates that Indian businessmen and politicians have cash deposits of more than $80 billion (Rs 280,000 crore) in Swiss banks. Prof Madhu Dandavate estimated India's black money to the tune of Rs 100,000 crore.