The policy and
bureaucratic logjam has caused a loss to the tune of Rs. 42,000 crore in
power sector alone. The phenomenon has impacted 78,000 megawatt power production in coal and gas-based power
plants, according to Arvind Kumar, Union joint secretary, Ministry of
Finance.
Speaking at Ravi Mathai Memorial Lecture held by the alumni of
the Indian Institute of Management-Ahmedabad at Hyderabad on Saturday
evening, he said, “As of December 11, 400 projects worth Rs. 17.68 lakh
crore in power, steel, coal, mining and petroleum are pending with
Cabinet committee on investments for clearance.
We need to ease logjam,
improve quality of infrastructure to get commissioned and financed
projects going.”
Delivering the keynote address, K.V. Kamath,
non-executive chairman of board of directors, ICICI Bank, said the
economy was given a wrong medicine in the form of increasing interest
rates.
Srikanth Nyshadham +91-98665-06729
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