The objective of this paper is to place in the public domain various facets and dimensions of black money and its complex relationship with the policy and administrative regime in the country. The paper also presents the framework, policy options, and strategies that the Government of India has been pursuing to tackle this issue, especially recent initiatives and developments. The paper is expected to contribute to the ongoing debate on the issue of black money and help develop a broad political consensus regarding the future course of action to address it. [White Paper Ministry of Finance]. URL:[http://www.prsindia.org/administrator/uploads/general/1337590103_WhitePaper_BackMoney2012.pdf].