Govt relief to struggling sector will boost steel industry

Tata Steel Managing Director, T V Narendran today said the government's move to provide relief to the struggling manufacturing sector augurs well for the steel industry.

Reacting over the interim budget placed in the Parliament today, Narendran said it, however, should be noted that the industry's problems were more structural in nature.

While the Finance Minister has highlighted the role played by the Cabinet Committee on investment in clearing stuck projects, there was an urgent need for a comprehensive review of the entire mechanism for grant of clearances such as (the environmental and forest clearances) to industrial projects in the country, Tata Steel said in a release today.

"In order to spark an industrial revival, the government needs to implement a time-bound, simple mechanism that is fair to all stakeholders and encourages economic activity in the country," Narendran added.

EDITORIAL OF THE DAY

  • Allow 100 per cent FDI in asset reconstruction companies

    The asset reconstruction business is 13 years old and still struggling like a toddler.

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

Arun Nigavekar

Moocs will not replace traditional education

I am revisiting the topic of massive open online course ...

Rajgopal Nidamboor

From complexity to prudent adaptability

It is a travesty that a host of new, strikingly ...

Dharmendra Khandal

Creepy, you say? That’s merely ophidiphobia

Snakes are the earliest predators in the life of the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture