FM Jaitley says retrospective legislation is a legal issue.Finance Minister Arun Jaitley here in Washington said that government does not believe in retrospective legislation and it is a legal issue. The FM is on a 9 day tour of the US. He said that the government does is not going to act based on past legislation. There will be no future exercise based on past legislation.He said that he wants to put a quietus on this issue and this issue is closed from now. He said that when he says quietus he is referring to the similar judgement passed by the Bombay High Court on transfer pricing. He said since the issue is lying the judiciary but the issue is related to only few people or companies from the past.He said that the investors are quite appreciative of this. He has been meeting top US officials like treasury secretary James Lew, Commerce secretary Kwerk, and Michael FOman and other top CEOs both individually and collectively. He also said that the government has decided to join FACTA i.e. Foreign account transfer Act. But the details regarding the date of signing the act is yet to be worked out. He said it will have a positive impact regarding the free flowing of information with regards to the account details and also help keep a check on the the undisclosed possession in foreign accounts.He said that the indian economy is only going to get better with further rate cuts. The economy will further become strong with rate cuts. He said that the meeting with the central banks he has nudged the banks to pass maximum benefits to the customeers. He said that the institution lije the central bank will help improve the economy by more rate cuts.On being asked about the low monsoon. He said the government is ready to increase more funds into under the Rural Job Gaurantee apart from the MNREGA which is having the total funds of 54000 crores. He said the rain has started weill and the weather looks good and he is keeping his fingers crossed. But low monsoon and hail storm has affected the crops badly.He said the government expects infusing capital for futher improving the situation.He said that ther