CCI nod not leading to spurt in investments: Montek

Tags: News
Admitting that CCI nod to mega infrastructure projects has not led to spurt in investments, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the efforts would not go waste.

"When you remove regulatory constraints, you don't get the response immediately. It is also possible that the projects are running into other problems ... So, I agree that we have not yet seen a sharp increase in investments.

"But you know these regulatory clearances are pre-conditions, so I don't think that the effort is wasted," he told reporters on the sidelines of an event here.

The Cabinet Committee on Investment (CCI), Ahluwalia said, had removed a number of regulatory constraints which were hampering the projects.

Sometimes, the projects get some other kind of problems despite getting a regulatory nod, he said.

"... Like for example, when the regulatory approval hasn't come, the investors focus on that, quite rightfully. Once it (regulatory clearance) comes, they have to get into financing side. It's quite possible, on the financing side, there are certain problems," he added.

CCI, which was set up in January 2013 to fast-track pending big-ticket projects under Prime Minister Manmohan Singh, has so far cleared projects worth over Rs 6 lakh crore.

EDITORIAL OF THE DAY

  • Enhanced allocations are needed for research to ‘Make in India’ for India

    Even as India flaunts its ambitious ‘Make in India’ initiative from February 13, it spurs several questions.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

The importance of Indonesia

A few weeks ago, the wo­rld was shocked by a ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Bubbles Sabharwal

Social media versus real life

It’s amazing how social media brings out the best side ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture