'No magic solution to black money'

 As G20 countries worked on steps to tackle black money issue, Prime Minister Manmohan Singh has said it is a problem but no “magic solutions” were available to deal with the menace.

“The problem is there but there are no magic solutions. I think it is going to be a slow process,” he told reporters accompanying him on his return home after his foreign tour. The prime minister’s remark came when he was asked whether the issue of black money has become irrelevant for the G20.