Published on Mon, Aug 28, 2006 at 08:54 | Source : Moneycontrol.com
Updated at Mon, Aug 28, 2006 at 10:58
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India needs more regulatory authorities: FM
Delivering the convocation address at the National Law School in Bangalore yesterday, Union Finance Minister P Chidambaram said that India needs more regulatory authorities, reports CNBC-TV18. He said that regulatory bodies facilitate business and help build and restructure institutions.
Delivering the convocation address at the National Law School in Bangalore yesterday, Union Finance Minister P Chidambaram said that India needs more regulatory authorities, reports CNBC-TV18. He said that regulatory bodies facilitate business and help build and restructure institutions.
He further added that regulation of the petroleum sector in the country is being considered.
He said that projects costing over Rs 30,000 crore are under various stages of implementation due to deficiency in executing major projects. This has led to cost escalation and further delay in execution.
The Finance Minister also said that the government will meet the fiscal and revenue deficit targets, since the state governments have been given the targets in April itself and they were doing well.
Finance Minister, P Chidambaram says, "Others in the area of completion policy, pension, etc are in different stages of formation. And still some more...petroleum, civil aviation, railways are under consideration. The list is a long one and is expected to grow longer."
The Finance Minister also said that the government will meet the fiscal and revenue deficit targets, since the state governments have been given the targets in April itself and they were doing well.
