The government's efforts to get the industry involved on the hugely emotive issue of black money has been given a cold shoulder with none of the business association and lobbies coming forward to provide views on how to tackle black money.

"We are now extending the deadline to September 15 and writing to industry associations to give their views," a finance ministry official told ET.

Finance minister Pranab Mukherjee had set up a committee of tax officials to examine ways to strengthen the legal framework to curb generation of black money in the country, its illegal transfer abroad and its recovery and instituted a national study to quantify unaccounted wealth within and outside the country.

This committee, headed by the chairman of the Central Board of Direct Taxes, had written to leading industry associations including CII, FICCI, Assocham, Nasscom, Bombay Chamber of Commerce, Indian Chamber of Commerce and PHD Chamber of Commerce, asking them to give their suggestions on the subject by July 15.

"We received response from some associations that they will respond but one month past the deadline they are yet to respond," the official said.

Industry bodies say they are still consulting their members. "We have sent CBDT's letter to our members for getting their views. We are awaiting their comments and will submit them as soon as we receive them," said a FICCI spokesperson.

CII declined to comment.

ICAI, which had set up an internal committee on the issue of black money, will soon give its views to CBDT.

The issue of black money has gained urgency after the Supreme Court had adopted a tough position on the issue in response to the public interest litigation filed by noted lawyer Ram Jethmalani. The apex court criticised the government for its reluctance to reveal the names of Indians who held accounts in European banks from 2002 to 2006 terming it "plunder of the nation".

Indian economy being on a high growth trajectory has seen emergence of a large number of billionaires.

Annual information return data that captures expenditure above a certain threshold showed a spend of more than 1,53,28,045 crore.