Pranab Mukherjee seeks more financial sector reforms

Washington, Oct 11 (ANI): Finance Minister Pranab Mukherjee indicated here that the Government of India was wanting to implement more reforms in the financial sector, but has not gone ahead with the process as the Congress led United Progressive Alliance (UPA) government does not have the required majority in the Indian Parliament to pass the bills.

He was talking to reporters after the conclusion of the IMF-World Bank annual meetings.

Speaking on inflation that is hovering around at 8 per cent, and rising food commodity prices, Mukherjee expressed confidence that steps are being taken to contain inflation and hoped that soon the prices of food items would come down to six per cent.

"This is an area where constant watch and evaluation of the situation (is being made) and thereafter appropriate steps will have to be done. My own assessment is that the annualised rate of inflation would be around six per cent," he said.

He further reiterated about India's hope of getting a permanent seat in the United Nations Security Council (UNSC), when it is expanded.

Speaking to media persons on Indo-U.S. relations, Mukherjee said export control was an area where much improvement was needed.

When asked if he discussed the issue of US H1B visa fees hike for IT professionals coming from India and other countries with Secretary of State Hillary Clinton, he said he did not raise any issue in particular.

"I did not raise any specific issue because these discussions are taking place at different levels," he added.

He further said that the US-India partnership would be one of the defining relations of the 21st century and Indians are ready to take this partnership forward. (ANI)