October 30, 2009 12:28 PM

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Govt. asks for broad political consensus to clear crucial legislation: FM

The government has sought broad political consensus to clear the crucial legislation, including the labour and the insurance bills. The government maintains that this is essential to push forward the reforms for returning to 9 per cent economic growth. Addressing the HT Leadership Summit in New Delhi, the Finance Minister Mr.Pranab Mukherjee said that fiscal deficit must be contained and brought back to 5.5 per cent by 2011-12 from 6.8 per cent now. Mr. Mukherjee was targeting 9 per cent economic growth in next two years from 6.5 per cent in the current year. He said that the Agriculture growth this year will be negative at minus two per cent as a result of adverse impact of drought particularly on kharif crop which would be down 15-16 million tonnes. Replying questions from the participants, he said that he will not be surprised if GST introduction is delayed by few months. <br/>

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