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Chidambaram for taking reform process forward

JAIPUR: A day after the Manmohan Singh government won the confidence vote in the Lok Sabha, Union Finance Minister P. Chidambaram indicated here that the government would try to seek the cooperation of parties outside the United Progressive Alliance as well in clearing the pending Bills. The passage of the Bills would be part of the effort to push forward the reform process.

“It is important that we take forward the reform process,” said Mr. Chidambaram, who was here on Wednesday to address a function to mark the entry of the Chennai-based Shriram Group into the general insurance sector. In his reply to the debate on trust vote Dr. Singh had made this amply clear, he said.

Many Bills pertaining to the Ministries of Finance, Labour, Child and Women Welfare and Social Justice were pending. They were of importance to the welfare of people.

One of the pending Bills pertained to the insurance sector. The Left opposed the legislation due to its provision on foreign direct investment (FDI). “The Bill has a clause, allowing FDI in insurance sector from the existing 26 to 49 per cent. As for the other provisions in the Bill, I don’t think any other party has any objection to,” he said.

“We will reach out other parties, even those which did not vote for us during the confidence vote. Those who opposed the nuclear deal might not have opposition to economic reforms.”

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