Union Finance Minister informed that the government would unleash more economic reforms in the coming days and weeks in order to rev up the investor sentiment and spur growth momentum.
The government is expected to expedite implementation of around 40 projects out of the 250 private sector projects that can quickly take off the ground and, thereby, boost economic growth, reports indicate.
Chidambaram expects the government to resolve issues like coal pricing and coal allocation to power plants, natural gas pricing before the end of June.
Further, the government expects to reform the foreign direct investment (FDI) limit, and work on a number of steps that the Securities and Exchange Board of India (SEBI) is contemplating based on the Chandrasekhar Committee report, which was submitted recently.
On June 25, SEBI is expected to take a view on the panelÂ’s recommendations, which is favoured by the government, he said.
The minister opined that the Chandrasekhar committee report was extremely positive, and they deserved to be accepted after discussion.
Chidambaram held out an assurance to investors that there was no need for panic over the rupee depreciation. He pointed out that what was happening was not unusual to India as countries with large current account deficits (CADs) such as South Africa, Brazil, Mexico and Turkey had taken hits on their currencies.
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