Govt will continue with economic reforms: Chidambaram

Chidambaram is scheduled to meet foreign investors in major financial hubs in Japan, UAE, Canada and the United States in the coming weeks

PTI | March 20, 2013



Undeterred by adverse political developments, Finance Minister P Chidambaram on Wednesday said there will be no let up in the government's efforts to continue with the economic reforms and he will go ahead with his meetings with foreign investors to persuade them to invest in India.

"I don't see us any weaker today (than) what we were yesterday. Yes, it is true one ally has withdrawn support. The government enjoys a majority, the government will continue to do its duty.

"The government will continue to take executive action and the government will continue to push legislation in Parliament", he told a press conference.

Chidambaram was responding to questions on fate of economic reforms in the aftermath of withdrawal of support to the UPA by the DMK.

The Minister further said that he would meet investors to persuade them to invest in India and also the government will not waiver in its commitment to bring down the fiscal deficit to 4.8 per cent in 2013-14 from 5.2 per cent estimated in the current financial year.

Chidambaram is scheduled to meet foreign investors in major financial hubs in Japan, UAE, Canada and the United States in the coming weeks.

"We are in government. We have a duty to steer the ship even if there is mild storm in the sea. We have our hands firmly on the wheels. We will continue to push for legislation," he said.

Chidambaram said yesterday the Cabinet cleared the Food Security Bill and this morning the Empowered Group of Ministers (EGoM) approved disinvestment of SAIL.

He said the Food Security Bill will be introduced in Parliament and "I am absolutely confident there will be enough support in Parliament to pass the Bill".

The government proposes to push through key economic reform Bills in areas such as insurance, pension and corporate law in the Budget Session.

Comments

 

Other News

‘World’s biggest festival of democracy’ begins

The much-awaited General Elections of 2024, billed as the world’s biggest festival of democracy, began on Friday with Phase 1 of polling in 102 Parliamentary Constituencies (the highest among all seven phases) in 21 States/ UTs and 92 Assembly Constituencies in the State Assembly Elections in Arunach

A sustainability warrior’s heartfelt stories of life’s fleeting moments

Fit In, Stand Out, Walk: Stories from a Pushed Away Hill By Shailini Sheth Amin Notion Press, Rs 399

What EU’s AI Act means for the world

The recent European Union (EU) policy on artificial intelligence (AI) will be a game-changer and likely to become the de-facto standard not only for the conduct of businesses but also for the way consumers think about AI tools. Governments across the globe have been grappling with the rapid rise of AI tool

Indian Railways celebrates 171 years of its pioneering journey

The Indian Railways is celebrating 171 glorious years of its existence. Going back in time, the first train in India (and Asia) ran between Mumbai and Thane on April 16, 1853. It was flagged off from Boribunder (where CSMT stands today). As the years passed, the Great Indian Peninsula Railway which ran the

Vasudhaiva Kutumbakam: How to connect businesses with people

7 Chakras of Management: Wisdom from Indic Scriptures By Ashutosh Garg Rupa Publications, 282 pages, Rs 595

ECI walks extra mile to reach out to elderly, PwD voters

In a path-breaking initiative, the Election Commission of India (ECI), for the first time in a Lok Sabha Election, has provided the facility of home voting for the elderly and Persons with Disabilities in the 2024 Lok Sabha elections. Voters above 85 years of age and Persons with Disabilities (PwDs) with 4

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter