New Delhi, July 8: The Congress-led government may dust off some economic bills and reform measures that had got stuck because of dogged opposition from the Left parties.

Officials said the Congress-led government would push for consolidation of state-run banks, a beginning for which had already been made through the amendment of the State Bank of India (SBI) act in Parliament.

Left trade unions had been opposing the merger of smaller banks with larger state-run banks.

Even if the Left had continued to support the UPA, the finance ministry planned to pursue a few cases of bank consolidation. One possible case is the merger of the SBI with some of its subsidiaries.

However, not all the reform measures stalled by the Left would have been passed by Parliament or be pushed through by the UPA government.

Many measures such as opening up of retail to foreign direct investment would be opposed by the Samajwadi party, which has replaced the Left as the government’s main crutch.

Mulayam Singh Yadav’s party has made it clear that it will oppose the entry of multinationals in retail.

Moreover, it has demanded an act to set up a regulatory body, which will protect the interests of small retailers.

The government would also not wish to push through bills to reform labour laws ahead of elections to six states this winter and a general election next year.

Moves to open up more farm products to forward trading or lift the ban on forward trading in some essential commodities are unlikely to be taken up.

Though these would not affect prices, it would not be prudent for the government to remove the restrictions at a time when inflation is ruling at a 13-year high.

Divestments in state-run companies may also be shunned, though small flotations in PSUs such as Oil India and NHPC Limited could happen.

Officials said big ticket divestments might not be popular ahead of an election.

Social security benefits for the unorganised sector, which the Left had been demanding, might find favour as they could pay electoral dividends.

A bill empowering the Pension Fund Regulatory and Development Authority would certainly be pursued. This bill allows private players’ entry into the lucrative pension sector.

There is unlikely to be any move on the bill allowing foreign banks to pick up stakes commensurate with their voting rights in Indian banks as it could lead to popular resentment, officials said.