"We have to find political space to push forward reforms... many matters are pending or in the pipeline, I wish everybody considers political space to push forward these reforms," the minister said.
Chidambaram said in a coalition it is very important that space is given to the government to carry out further economic reforms. Terming financial sector reforms as crucial for sustaining high economic growth, Chidambaram said there are important legislations like banking and pension sector reforms as also the proposed Bill on insurance.
The Left parties are opposing pension reforms, which included setting up of regulator in the sector and moving to defined contribution scheme instead of the defined pension system.
The Left is also opposed to a bill to increase FDI cap on insurance sector from the present 26 per cent to 49 per cent.
Besides banking reform bills like for increasing the voting rights of foreign players in private sector banks in proportion to their share, is also facing hurdles from the Left parties.
Chidambaram described the fiscal performance of the UPA government during the first half of its tenure as "extremely satisfactory" particularly on the fiscal front.
The government would complete the first half of its tenure on Saturday, Chidambaram said and exuded confidence that with participation and support of all key economic players the performance during the second half of the UPA government would be even batter or atleast equal to first half.
"The key to this (sustaining high growth in the next two and a half years) is that the government follows sound economic policies emphasising fiscal discipline and prudence," Chidambaram said.
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