The Hindu Business Line : Friendlier regulatory environment in infrastructure sector: Govt

THE Government is committed to strengthening the regulatory environment in infrastructure sector such as roads, airports, seaports, Railways and the petroleum sector to create a business and consumer-friendly environment for attracting domestic and foreign investment, according to the Minister of State in the Prime Minister's Office, Mr Prithviraj Chavan.

Inaugurating the 20th Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI) conference on `Strategies for sustainable growth in the Asia Pacific Region', Mr Chavan said that the setting up of regulators forms part of the Government's effort to provide good governance through administrative, judicial, economic, political and electoral reforms.

To ensure painless economic reforms and achieve eight per cent annual GDP growth, the Government's focus is on massive infusion of public investment to build social capital.

Apart from doubling the investment in education and health in four years and on agriculture in three years, a wide social safety network is being established to provide a minimum of 100 days of employment to the rural poor for asset and demand creation as a State guarantee.

Responding to the FICCI President, Mr Onkar S. Kanwar, and the CACCI President, Mr K.K. Modi, the Minister said that a key priority is investment in physical infrastructure such as national highways, Railways, airport modernisation, seaports, power, petroleum exploration and refining, and tourism.

Mr Chavan gave away the CACCI Business Achievement Awards for Corporate and Individual Initiative in economic and social development.

In the Corporate/Institutions Category, the Award for Rural Development was won by Punjab National Bank, New Delhi, for service to rural India in the field of agriculture, education, health, husbandry and industry.

The Award for Environmental Conservation & Pollution Control went to Visakhapatnam Steel Plant for continuously reducing waste emissions and improved greenbelt developments (over 40 per cent area) and an excellent record of energy/ water conservation measures during the last five years.

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