White paper on black money a damp squib, states the obvious

The times are such that India needs copious capital inflows, but the government on Monday raised doubts on participatory notes (PNs) for their suspected misuse by Indians to evade tax. “Investment in the Indian stock market through PNs is another way in which the black money generated by Indians is re-invested in India,” said a white paper presented by finance minister Pranab Mukherjee in Parliament.

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