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

  • Finance minister has been pragmatic in exempting FIIs from MAT claims

    Good sense has finally prevailed in the government, with finance minister Arun Jaitley announcing the income-tax officials will exempt overseas funds

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

Examining times for learning

The central advisory board of education in its meeting on ...

Zehra Naqvi

If you bend, you won’t break

There’s an ancient exercise about a green, supple new branch ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture