Immediate priority of Government is to keep investment cycle going: Chidambaram
New Delhi: Union Finance Minister P Chidambaram has said that immediate priority of the Government is to keep the investment cycle going.
"There are some positive signs in the economy but no discernible trend so far," Chidambaram said during his pre-Budget consultations with industry and trade here. He said that both domestic and foreign investments are not an option but an economic imperative for the government.
He said that the Cabinet Committee of Investment is constituted to resolve inter ministerial issues and to speed-up the clearances of projects. Along with the Finance Minister, both the Minister of State for Finance SS Palanimanickam and Namo Narain Meena, Adviser to the Finance Minister, Parthasarthy Shome, Finance Secretary, RS Gujral, Secretary, Financial Services, DK Mittal, Revenue Secretary, Sumit Bose, Secretary, Department of Economic Affairs, Shri Arvind Mayaram, Secretary, Disinvestment Ravi Mathur, Secretary DIPP, Saurabh Chandra, Secretary, Department of Commerce, SR Rao, Chief Economic Adviser, Dr Raghuram R Rajan, Dr Anup K Pujari, DGFT and Chairman CBEC were present among others.
About 16 representatives representing different Organisations participated in the aforesaid meeting.