Budget 2019: Undisclosed income of Rs 1,30,000 crore brought to tax

An undisclosed income of about Rs 1,30,000 crore was brought to tax due to the anti-black money measures taken by the central government during the last four-and-half years in the form of Black Money Law, the Fugitive Criminal Offenders Act and Demonetisation.

These measures have also led to seizure and attachment of assets worth approximately Rs 50,000 crore and compelled holders of large cash currency to disclose their source of earnings.

"Our Government is committed to eliminating the ills of black money from our country," said Union Minister for Finance Piyush Goyal while presenting the Interim Budget 2019-20.

Benami assets worth Rs 6,900 crore and foreign assets worth Rs 1,600 crore have also been attached, said the minister, adding that around 3,38,000 shell companies have been detected and de-registered.

Furthermore, Goyal also told the House that there has been a growth of 18 per cent indirect tax collection in 2017-18.

This is the final and last budget of the current NDA government since its tenure began in 2014.