Highlights: Finance Minister P Chidambaram on state of economy

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New Delhi:  Finance Minister P Chidambaram is presenting the ministry's report on the state of economy.

Here are the highlights:

  • 30 per cent of pending projects have been cleared.
  • Cabinet Committee on Investment has cleared 18 power projects
  • 9 infrastructure, energy projects have been cleared by the committee
  • Approvals are in place, they will have to go back to banks
  • Then you will see investments being made
  • Can't mention a timeline but projects are not being stalled
  • Bottlenecks are being removed
  • If investments start, many things will happen... demand for various things will increase
  • Message that we are sending is that we are keen on getting investment cycle started again
  • Found a number of projects were stalled, CCI was constituted for that purpose
  • Now, removing bottlenecks
  • The investment cycle has started and it will gather pace as we go on
  • We have appointed two committees and asked them to submit report within 15 days
  • Meanwhile, some discussion about where FMC should be located
  • Once the two reports come, the government will take action
  • We are keeping a careful watch and are in touch with SEBI and FMC regulator
  • After Food Bill, the Land Acquisition Bill is the next listed item
  • Every emerging market is challenged today, India too
  • The impact is more in currency and equity market
  • Be patient, Rupee will find its appropriate level. Currently, Rupee is undervalued
  • Have to do what requires to be done


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