The Finance Minister Pranab Mukherjee met top leaders of Indian industry - including Ratan Tata, Anil Ambani and Sunil Bharti Mittal to discuss the state of the economy, the reform agenda and crucial policy changes, reports CNBC-TV18.
Post the meeting, the FM said important financial sector legislations are being pursued. He also added that some of the Bills introduced in the last session including Banking Laws Amendment Bill, Factoring & Assignment of Receivables Bill, Pension Fund Regulatory & Development Authority Bill, Insurance Laws Amendment Bill and life insurance corporation bill are expected to be passed in the monsoon session of the Parliament.
Mukherjee expressed confidence that the fundamentals of the economy are strong and the growth drivers in the medium term remain broadly intact.
He said that there had been some cynicism expressed of late regarding lack of adequate movement on policies and institutional processes. The FM stated that he found this view to be based more on perception than facts because several significant policy initiatives had been taken in the recent past and many others were in the pipeline.
Mukherjee said that on the global front, the sovereign debt problems that had beset the Euro zone over the past year were now threatening to spill over to the larger economies. From India
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