Reviving investments critical to achieve 8% GDP growth: Dr Ahluwalia

Stressing on the need for continued policy actions for facilitating fast clearances of projects in the infrastructure space, Dr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, emphasised that reviving confidence of both domestic and foreign investors would depend critically on reviving investments in the economy. Highlighting the criticality of project clearances in reviving growth, Dr Ahluwalia said, “Project clearance is the most important issue, after GST, which should be pushed vigorously to support growth.”
Dr Ahulwalia was addressing the participants at the inaugural session of “Conference on Reviving Investment: Imperatives for Project Clearance’ organised by the Confederation of Indian Industry in New Delhi on March 05. Speaking further on reviving investments, Dr Ahluwalia said, “Apart from addressing the regulatory aspects impacting project clearance, there is also need to address the financing issues to support the swift take off of the cleared projects.”With the country going into the election mode, Dr Ahluwalia urged the industry to undertake preparatory work and come up with an agenda which would elucidate a set of actions to be taken by the new government to push the growth agenda forward.
Speaking on the occasion, Anil Swarup, Additional Secretary and Chairman Project Monitoring Group, emphasised, “While digitalisation of clearance processes would ensure fast tracking of approvals through instituting transparency and accountability, it will further facilitate getting various stakeholders at the ground level, for early resolution of the issues.”