The Union finance minister, Pranab Mukherjee said that the government in power is flexing its muscle hard to get back the black money swapped away abroad.

The response came during a debate on finance bill in the Rajya Sabha session on Wednesday.

"The government has got assurances from countries like Switzerland, which have strong banking secrecy laws, that they would be willing to share more information provided "it is used only for purpose of tax collection," the minister affirmed.

"As promised, we have taken action within 100 days. We will follow the code of G-8 countries under which exchange of information will take place," he added.

The issue of Indian money stashed in the Swiss Bank was one of the focal points in recent elections. The defeated party, BJP in a pre-election statement, vowed to bring the India black money back.

Senior advocate Ram Jethamalani, among others had filed PIL on the issue of Indian black money before the general elections in the apex court.

In the case proceedings, on Monday, the Government in power was accused of veiling relevant information on the matter to the Supreme Court by a Pune-based businessman, Hasan Ali Khan. The apex court noted the allegation against the government and sought its response.

Khan has been alleged for violating Foreign Exchange Management Act and accumulating over $8 billion in foreign banks.

According to Global Financial Integrity study, during 2002-06, an average of $27.3 billion (about 136,466 crore) was annually stashed away from India, with loss aggregating to 136.5 billion (about 692,328 crore) over the period of five years. The money is directed to Swiss Bank and several other tax and secret shelters.