Finance minister Pranab Mukherjee today said his ministry has set up a group to look into the possibility of an amnesty scheme to encourage people to bring back black money stashed abroad.
"I have appointed a group to look into it (amnesty scheme) and to make suggestions and recommendations to me," the finance minister said when asked if the government was considering granting amnesty to those who have stashed away black money overseas.
Mukherjee, however, did not elaborate on the nature of the group and its members.
His remarks come ahead of the budget, for which the proposals are being finalised by finance ministry officials.
Mukherjee will unveil the budget for 2011-12 on 28 February.
The minister, while addressing a press conference in New Delhi, said the issue of granting amnesty to convert black money into white was a tricky one like "a double-edged sword".