Stalled Road Projects
In its bid to offer a rescue route for the stalled road projects involving investment of Rs 500cr to Rs 1,000cr, the government is all set to open a special interventions window to resolve the contentious issue that got entangled in red tape. But to start with, it is keen to focus on resolving the problems facing larger investments, Cabinet Secretary Ajit Seth said in a recent statement, adding that in order to bring clarity to the government's policy proposals, a Committee of Secretaries led by himself has decided that all proposed legislations and policy initiatives must be put in the public domain in order to invite feedback from stakeholders. He admitted that reviving the investment cycle and creating confidence about India's policies among investors are among the key challenges facing the slowing economy. In fact, the government is confronted with the grim reality of an economic slowdown and it needs to be addressed on a war footing to bring back growth and job creation momentum, and there is a feeling in industry that the threshold should be lowered and the proposal was discussed threadbare among ministries and the consensus was that it may be too early to do it at this stage as the government does not want to take attention away from the Rs 1000cr-plus projects as it could lead to a jostling from the industry, he insisted.