IDS-II nets only Rs 4,600 cr

This amount is just about 10% of the previous IDS

With declarations of only Rs 4,600 crore, the much-touted Pradhan Mantri Garib Kalyan Yojana (PMGKY) has turned out to be a damp squib. This is only about 10 per cent of the previous income declaration scheme.

The total tax collections under the scheme, also known as the Income Declaration Scheme-II (IDS-II), is about Rs 2,300 crore. Now, the government will need to come up with more steps to fight the creation and control of undisclosed money, as part of its Operation Clean Money.

The numbers are provisional, and could be revised upwards, said a government official. Sources in