New Delhi: Finance Minister Arun Jaitley today asked taxmen to squeeze the parallel economy but gave an assurance that while doing so honest taxpayers may have nothing to fear about the new black money law.

"The parallel economy has to be squeezed...and (it) has to be done in very fair manner, not in a harsh manner. In doing so, as senior officers you have to... maintain the highest standard of integrity," he said while addressing a conference of top officials of the Central Board of Direct Taxes (CBDT).