The government today said that it cannot disclose the identity of persons involved in black money cases before initiating prosecution proceedings against them.

Finance Secretary R S Gujral told reporters in Agra that the information about accounts in overseas banks will be shared with the Enforcement Directorate after initiation of prosecution by the Income Tax Department.

He added that information cannot be shared with the Enforcement Directorate before it comes in the public domain.

The Income Tax Department is probing a list of 700 Indians with accounts in Geneva-based banks after the government received information in this regard, reportedly from the French government.

On the issue of disinvestment, Mr. Gujral maintained that government will achieve the target of forty thousand crore rupees of disinvestment for the current fiscal.

He said that government is weighing several options for PSU stake sales despite uncertainty in the stock market.