New Delhi, Jul 22: On the second day of the debate in the Lok Sabha over the Government's trust vote, Finance Minister P Chidambaram said that the Hyde Act, passed by the US Congress to enable nuclear commerce with India, was a domestic law in that country and had no binding on India.
Chidambaram also stressed the need for nuclear power. He said the provisions of the 123 Agreement will alone prevail in regard to the Indo-US nuclear agreement and that the government went to the International Atomic Energy Agency (IAEA) after an agreement with the Left parties and froze the text.
He added that the Government did nothing to violate this agreement and the text of the draft safeguards agreement was promised to be given to parties the day India approached the International Atomic Energy Agency.
"We are only carrying forward the exercise done by the National Democratic Alliance government in engaging with the US on the Indo-US nuclear issue," Chidambaram said.
He added: "The question is do we want to come out of nuclear isolation."
Highlighting the achievements of the UPA government, Chidambaram said rice production rose to a record 96.43 million tonnes in fiscal year 2007-08, wheat at 78.4 mt, coarse cereals at 40.7 mt, pulses at 15.1 mt, oil seeds at 28.82 mt and cotton at 21.81 million bails.
He also said that economy will grow at 7-8 per cent during current fiscal.