Main reasons for projects being stalled identified: Chidambaram

Posted By: Staff
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Finance Minister P Chidambaram has said the government has identified the main reasons due to which projects were stalled. "The main reasons are coal linkage, environment clearances, land acquisition," he said adding there is now a greater degree of confidence than what was there 6 months ago. "Now that we have resolved some issues relating to environment clearance, and NHAI, more coal blocks are being made available... Ministry will start taking sectoral meetings with state governments and promoters to see how we can move these forward," he said.

On liquidity situation, Chidambaram said the Reserve Bank Governor will take steps in the monetary policy review tomorrow. "The RBI Governor is also aware of issues of liquidity and tomorrow is the monetary policy and am sure he will address the issue of liquidity," he said. Replying to a question on charges of money laundering by certain employees of three private sector banks, Chidambaram said the RBI and the Finance Ministry are looking into the issue. "Secretary, Department of Financial Services is looking at it closely. RBI is looking at it closely. They (banks) themselves have instituted enquiries. Let's give them a Little time to come up with the report of the enquiry," he added.

On the proposed all women bank, Chidambaram said the expert committee headed by M B N Rao for the purpose met for the first time on Saturday and the panel will give a blueprint on the bank by April end. The Finance Minister further said all PSU banks have also shown interest in opening all-women branches. In next six months, he said, all state-run banks will have such branches. PTI

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