Muted response to second black money disclosure scheme

The Pradhan Mantri Garib Kalyan Yojana saw declarations of mere Rs 2,500 cr

The government's efforts to get people to disclose unaccounted cash deposited in banks after demonetisation have received a muted response.

At the end of February, the Pradhan Mantri Garib Kalyan Yojana (PMGKY), also known as the Income Declaration Scheme II, saw declarations of Rs 2,500 crore, of which the Mumbai circle accounted for Rs 500 crore.

Offering a final option to holders of black money, the government had on December 17 provided them time until March 31 to come clean on deposits of banned currency notes in banks after demonetisation. 

For those holding unaccounted cash, the PMGKY proposed