Capital market, financial sector reforms on unveil: Chidambaram

Liberalising natural gas pricing as well as clearing impediments facing projects figure high on priority, says the FM

Exuding confidence that growth rate will climb to 6% next year, Finance Minister P Chidambaram today said government will in next 6 months liberalise capital markets and financial sector to help economy return to high growth trajectory.

Unveiling UPA government's agenda for the remaining six months of its second term, he said liberalising natural gas pricing as well as clearing impediments facing projects figure high on priority.

"I have a whole list of things to do on my table and follow it everyday. We have to liberalise capital markets, we have to liberalise financial sector, we have to fix the price of gas and oil. We have tried to fix the issues in coal sector so that more coal is produced. We will have more meetings of CCI to unblock stalled projects.

"There are whole series of things across the spectrum that needs to be done and we will do it, just as we have done something everyday for last 16 months," he said at the India Economic Conclave organised by ET Now.

Stating that Indian economy was going through stress like the economies world over, the Finance Minister said economic growth will begin to pick up from next fiscal, rising to 8 per cent in two years time.

"I am absolutely confident that we can overcome this period of stress and return to high growth path. In 2014-15, our growth will be close to 6%. In 2015-16, it will be close to 7 per cent and a year after we will be back to high growth rate of 8%," he said.