Wednesday, November 16 2005 18:57 Hrs (IST) - World Time -

New Delhi: Unveiling the reform agenda for the coming months, Finance Minister P Chidambaram today (Nov 16, 2005) said the government would give top-most priority to make financial sector efficient for channelising savings to attain a higher 8 per cent growth.

"If the savings are channelised through an efficient financial sector, we are poised for 8 per cent growth. We must pay attention to banking, insurance, pension and capital markets," he said at the Hindustan Times Leadership Summit here.

"We are moving towards that direction. I am confident, we will be able to pass the pension bill and the two bills on banking laws. That will mean I can have a good start (on financial sector reforms) and a merry Christmas," he said.

The Pension Fund Regulatory and Development Authority bill, already vetted by the Standing Committee, is expected to be taken up in the winter session of Parliament beginning on November 23.

The bills to amend the Banking Regulation Act and RBI Act now before the Standing Committee are expected to be cleared and taken up in Parliament before the end of this session on December 23.