Both these Bills, as well as the one on pension reforms, were opposed by the Left, but may find currency with the BJP. In fact, it was the previous NDA government that sought to reduce government stake in state-owned banks to 33 per cent.
The finance minister also said despite 12 per cent inflation rate, a 13-year high, the economy would grow 8-8.5 per cent in the current fiscal. Admitting it was a difficult year, he said, the industry might moderate to a level, but expected agriculture and the services sectors to perform well. “However, it will be a year when growth will be accompanied by inflation. The effort is to moderate inflation from now over the next six months,” he said.
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