Reiterating the Government's committment to the Reforms Agenda, the Finanace Minister, Sh Pranab Mukherjee is reported to have clarified that the FDI in Retail Executive decision has not been shelved. Speaking at the Annual Session of the PHD Chamber Of Commerce And Industry on 23/12/2011, the FM said that the Governement was working on building consensus on all Economic Legislation including the Pension Funds Regulatory Development Authority (PFRDA) and FDI in multi-brand Retail. He said,"
Commitment to FDI, commitment to PFRDA and all other major legislations, which
are part of new generation reforms, are very much in the mind of the government
and we are working very hard to build up the consensus".
The Finance Minister also reiterated the government's view that growth in the current
fiscal year could be between 7.25% and 7.75%, lower than the 9% budgeted earlier
in the year. He admitted that the Indian Economy was facing challenges on the fiscal front and further said that the challenges are to be overcome collectively by appropriate Policies and effective implementation.
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