Govt for consensus to pass reforms bill: FM

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Posted: Friday, Oct 30, 2009 at 1140 hrs IST
Updated: Friday, Oct 30, 2009 at 1140 hrs IST

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New Delhi: The Government sought broad political consensus to clear the crucial legislations, including the labour and the insurance bills, to push forward the reforms for returning to 9 per cent economic growth.

"We don't have the required majority in the two Houses (of Parliament) to clear the bills ... a broad political consensus is needed," Finance Minister Pranab Mukherjee said addressing a summit.

He said fiscal deficit must be contained and brought back to 5.5 per cent by 2011-12 from 6.8 per cent now.

Stressing on fiscal consolidation, he said the target must be to "bring back fiscal deficit within prudent limits."

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