FM meets BJP leaders, hopeful of support for key reform bills

Finance Minister P Chidambaram on Wednesday expressed hope that opposition BJP would cooperate in getting five key economic reforms bills passed in the ongoing Winter session of Parliament.

"I have discussed all five economic reforms bills with two leaders of opposition (Sushma Swaraj and Arun Jaitley). I sincerely hope that principal opposition party would cooperate," he said.

The BJP leaders, he said, understood the urgency for enactment of the reform bills. AFP

The BJP leaders, he said, understood the urgency for enactment of the reform bills. "I have offered to meet them again," Chidambaram said. The Minister, however, ruled out the possibility of referring the Banking Laws (Amendment) Bill to the House Panel for the second time as has been demanded by the opposition.

The key economic reform Bill which are pending before Parliament include Banking Laws Amendment Bill, Insurance Laws (Amendment) Bill, Micro Finance Institutions (Development and Regulation) Bill besides Pension Fund Regulatory and Development Authority Bill.

While the banking bill seeks to facilitate issuance of new banking licences, the insurance bill aims to increase FDI cap in the sector to 49 percent. "I hope all of them (economic reforms bills) will be passed," he said, adding, that whosoever is in the government has to get these legislations enacted.

Two bills -- Money Laundering (Amendment) Bill, 2011, and Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011,-- have already been passed by the Lok Sabha this session.

"I have got two passed in the Lok Sabha. One has gone to the Rajya Sabha," Chidambaram added.

PTI