Expect more reforms in 2-4 months: Chidambaram - The New Indian Express

Union finance minister P Chidambaram said on Wednesday that there would be further economic reforms in the next two to four months. "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 two to four 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 the Economist's India Summit in the capital. The finance minister pledged the government's commitment to reform and urged for support from the main opposition party in order to pass key bills in Parliament. "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," he said. Chidambaram said that the government would complete the remaining 13 months and would take small significant steps to achieve 8 per cent economic growth. The finance minister said that there was a 70 per cent chance that the Goods and Services Tax (GST) would be passed in Parliament during the UPA-II regime. "GST is possible, but it's possible only if the central government and all the state governments, which are now ruled by eight-nine different political parties, were together... I think the chances are close to 70 pc. If the bills are endorsed, by the council, then I think the chances of their passing are much higher," Chidambaram said adding he is trying to build consensus on GST just as he had done on value added tax. "I am trying to forge a similar consensus on GST...Now we reached a stage where the empowered council, of state finance ministers, has authorised us to draft a constitution amendment bill and a normal bill for introducing GST," he said. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNF0jYZzAdaxQpqiir8BpxqUFzDesg&url=http://newindianexpress.com/nation/Expect-more-reforms-in-2-4-months-Chidambaram/2013/04/25/article1560088.ece

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