Will Keep FY14 Fiscal Deficit Below 4.8 Percent, Says FM

New Delhi: Committing to carry forward the economic reforms programme in the remaining term of UPA-II, Finance Minister P Chidambaram said the government will take more executive actions in the next two to four months and sought cooperation of the main opposition party to push through important bills in Parliament.

Ruling out early elections, the Minister said the government would last for 13 months more and would continue to take small but significant steps to ensure that the country achieves its potential growth rate of 8 per cent.

“There is much more to be done. The remaining bills have to be passed. There are many more executive actions that have to be taken… Some of these are executive actions which we will take in the next 2-4 months. “We will continue to take small significant steps. We will also take forward some big ideas. India’s economy will continue to reform,” Chidambaram said while addressing a conference organised by UK-based magazine The Economist.

The Minister sought cooperation of the Opposition party to ensure passage of the land, insurance and Goods and Services Tax (GST) bills in Parliament, saying the economic issues should be dealt in a bipartisan manner.

“We have listed the things we intend to do. We want the Land Bill passed; Insurance Bill passed with FDI at 49 percent. I sincerely seek cooperation of principal opposition party and other political parties.
“We want the regulator for coal sector, road sector in place; we want rail tariff authority in place to fix tariff in railway sector,” the Minister said.

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