'Govt working on masterplan to improve investment climate'

"A masterplan is being drawn up that aims to offer investors a hassel-free investment climate," he said.

"This is to deal with clearance in foreign direct investments, mergers and acquisitions," he said, adding that his ministry was in touch with the ministries of finance and commerce.

Speaking at a seminar at MCC Chamber of Commerce and Industry, Moily said he expects the measures, along with the Prime Minister's effort regarding General Anti Avoidance Rules (GAAR) and taxation, would drive the economy back on track in the next two to three months.

He said MCA is working on a business index with professionals in this regard.

"This will deal with competitiveness too in the form of a rating. We are planning to come up with something on this in the next two months," Moily said.