Stuck Bills: Reach out to parties,Pranab tells CEOs

"If the parties agree,I can get the Bills passed in this session (of the Parliament)."

Frustrated by the political opposition to crucial reforms,Finance Minister Pranab Mukherjee today told a group of CEOs that the UPA did not have the numbers in Parliament to ensure passage of Bills and so they must reach out to political parties to build a consensus on reforms.

In Budget 2011-12,Mukherjee promised to introduce long-pending financial sector reforms bills in the current session. I want to increase the foreign investment limit in insurance to 49 per cent, he said. Even if we manage a majority in the Lok Sabha (support of 273 members),we do not have it in the Rajya Sabha (125 seats).

I request your support to build consensus. Not only for the Constitutional amendments for the Goods and Services Tax,but for the six legislative bills referred to in the Budget. The concurrence of states is essential. If the parties agree,I can get the Bills passed in this session (of the Parliament), he said at his customary interaction with CII,Ficci and Assocham.

The Bills he proposes to introduce this session: the Insurance Laws (Amendment) Bill,the Life Insurance Corporation (Amendment) Bill,Pension Fund Regulatory and Development Authority Bill,Banking Laws Amendment Bill,Bill on Factoring and Assignment of Receivables,The State Bank of India (Subsidiary Banks Laws) Amendment Bill and Bill to amend RDBFI Act 1993 and SARFAESI Act 2002.

I will require two third majority in each house of Parliament to get the Constitutional amendment bill passed for Central GST, he said. I am ready to go the extra mile for consensus on GST,but let them (states) also travel with me. All the groundwork for GST is done,but the Constitutional amendment can be done in no way but with the required support of both Houses and at least 50 per cent of state governments.