"But if does, then it would be a turning point to get over weaknesses," he said during a panel discussion at an event to mark the 20th anniversary of NSE. (Agencies)
"I think let's wait for the elections. I am not sure that the elections will throw up a government with a solid majority in Parliament," he said. The general elections are due to be completed by May next year.
The Congress, which leads the UPA government at the Centre, faced defeat in the just concluded elections in four states - Madhya Pradesh, Rajasthan, Chhattisgarh and Delhi.
Chidambaram further said that India is a democracy that is going through a phase of churning. In the last 60-odd years, he opined this is the "weakest point" in India's democracy".
"The executive has been hindered or hampered by over reach of our institutions, Parliament is nearly totally paralysed and there is a mistaken, romantic view that there is a judicial solutions to our problems. I think in terms of the three branches of the government coming together, which a necessary precondition, we are in one of the weakest points in India's history. We have to overcome this," the Finance Minister said.
He further added Parliament's business is to make laws and the judiciary should acknowledge that.
"Parliament's business is to make laws and the judiciary must acknowledge that. There are no judicial standards by which judges can judge and decide upon the issues. Judges can only decide on matters where there are judicial standards," the Minister added.
"But if does, then it would be a turning point to get over weaknesses," he said during a panel discussion at an event to mark the 20th anniversary of NSE.