Reserve Bank Governor Raghuram Rajan on Wednesday exhorted political parties not to postpone passage of key economic bills because it may become challenging to get them approved after the 2014 general elections.

“A stable government post-elections cannot be taken for granted…it would be dangerous for parties to postpone necessary legislations with the idea of passing the legislation post-election. Post-election politics may become even more challenging for whoever assumes power,” he said.

Rajan spoke at the Delhi Economic Conclave 2013 on ‘The Agenda for the Next Five Years’ in New Delhi on Wednesday.

Similarly, Rajan said delays in putting large, stalled projects back on track or an additional fiscal slippage would only amplify the challenges that the new government will face.

“It will benefit the economy if Parliament passes key bills and if current authorities take action to improve growth and fiscal health, including raising diesel prices to market level and eliminating other poorly targeted subsidies,” the Governor said.

Rajan said economic growth seems to be stabilising. “We are seeing some glimmerings of stronger growth. But its too early to say we have certainly hit bottom. But I am hopeful that (growth) would be around 5 per cent.”

The country’s economic growth slowed to decade low of 5 per cent in the previous financial year.