New Delhi: PM Manmohan Singh on Tuesday said that the public sector to invest more - both at home and abroad - and the growth driver in the middle of difficult global economic environment.
"Public investment is particularly necessary at a time when the country is faced with a difficult global environment, and looking for drivers for growth. I am very happy to learn that 17 of our largest CPSUs has promised investment plans amounting to Rs 1,40,000 crore in the coming year. I would encourage the rest of Central Public sector entities in the same way pay attention to boost investment. These efforts must be recognized and rewarded appropriately through the MoU (memorandum of understanding), "Singh said.
10th TOI was the first of January to announce that Pulok Chatterjee, principal secretary of PM, asked the 17-Everyday Power TV Source is designed to increase investment and further diversify the look of their surplus cash. The move was pushed as a "stimulus" of sorts at a time when economic growth is slowing and is expected to nearly 7% this year compared to the forecasts of 9% at the beginning of the current financial year.
The major problem is the government has no private sector investment, which has dried up due to the high interest rates and the attitude of policy inaction. Arranged at the scope, the PM made a special request to the mining and energy sector, asking them to increase efficiencies. "Politics is the acquisition of material assets abroad approved by the Cabinet recently. I call our Central public sector units, especially in the field of mining, seriously look into the possibilities of such acquisitions."
The application comes at a time when the local industry, especially in the energy sector, the complaint is the lack of fuel to the fire units of production - both coal and gas. The absence of an adequate supply of the domestic industry has been hit by high cost of electricity.
"Notwithstanding the difficulties, we need to step up its activities in mining, especially coal, oil and gas," Singh said. Miners are referred to the main drag on the slow implementation of environmental clearances.
Singh said India needs a major investment - both public and private infrastructure, particularly in the area. Upholding the government's support, he said, "We are clear that both public and private sectors must work together to meet the needs of our rapidly growing economy."
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Seeing Science Everywhere
11 years ago
