PC: We need more reforms, less curbs

Aug 28, 2013 |

Age Correspondent

Finance minister P. Chidambaram said on Tuesday that the government had approved a raft of infrastructure projects worth `1.83 lakh crores in order to revive the investment cycle and restore investors’ confidence as the rupee fell to a new lifetime low.

“The message we are sending is that the investment cycle has restarted, and we are pushing it. It is gathering pace,” Mr Chidambaram said. The finance minister added that the government will endeavour to improve investor sentiments to help the rupee find its appropriate level.
He said the Cabinet Committee on Investments met on Monday and cleared 36 major projects in the power and infrastructure sectors stalled due to regulatory hurdles. Of these, 18 were power projects and the remaining 18 in sectors like roads, railways, petroleum and natural gas.
Mr Chidambaram said India wasn’t alone in facing a crisis. “All the currencies of all emerging economies have come under pressure. For the moment, we believe that the value of the rupee has

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