JOIN USEven if the budget session of Parliament was cut short on Wednesday, the finance ministry looks firm in its resolve to carry on with reforms, especially those which can be taken through executive action.
The ministry is also contemplating hastening up the government’s Rs 40,000 crore divestment programme by the year end or much before the election bugle is sounded, the sources close to the development said.
Finance Minister P Chidambaram has already said that the government would continue to take small but significant steps along with more executive actions in the next two to four months to ensure that the economy touched its potential growth rate of 8 per cent.
The government was also hoping to achieve some breakthrough on the landmark Goods and Services Bill and the Direct Taxes Code Bill along with the land acquisition bill and insurance and pension laws, but continued disruption of both Houses of Parliament by Opposition on demands for resignation of the prime minister and law minister over coalgate and other issues on Wednesday saw Parliament adjourn sine die without making any headway on major economic reforms.
The legislation on land acquisition, insurance and GST require parliamentary approval and these could go through only when the UPA and the main Opposition and others are on the same page.
“However, there are certain other reforms to spruce up investment in the Indian economy that are in the executive domain will be taken up and also expedited,” the sources told Deccan Herald.