Note Ban: Rs 1.30 Lakh Cr Undisclosed Income Detected, Says Goyal

Piyush Goyal said the government is committed to eliminating the ills of black money.

Demonetisation and the banning of notes.

(Photo: The Quint)

New Delhi, Feb 1: Anti-black money measures including demonetisation have led to discovery of undisclosed income of Rs 1.30 lakh crore and seizure of Rs 50,000 crore, Finance Minister Piyush Goyal said Friday.

He said the government is committed to eliminating the ills of black money.

"Anti-black money measures including demonetisation led to the discovery of undisclosed income of Rs 1.30 lakh crore, seizure of Rs 50,000 crore," Goyal said while presenting Interim Budget for 2019-20 in the Lok Sabha.

The government had demonetised currency notes of 500 and 1,000 denomination on November 8, 2016, to check black money. It later issued new Rs 500 and Rs 2,000 notes.