The Hindu Business Line : Get investment in infrastructure: Chidambaram

Speaking at a press conference here on Monday after re-launching the Congress (I)'s Malayalam newspaper Veekshanam, he pointed out that infrastructure investments are required in telecommunications, highways and ports. However, the perception that trade unions in Kerala are militant can have an adverse impact on the flow of investments into the State, he added.

Asked whether the Government was finding it difficult to push through disinvestment of public sector undertakings, Mr Chidambaram replied that the Left had opposed disinvestment only in the `navaratna' companies. The Left parties are inclined to consider disinvestment in non-navaratna companies, he added.

Responding to a query on the problems faced by students in getting educational loans, he said that 1.75 lakh student loans, worth Rs 3,500 crore, had been sanctioned last year. Mr Chidambaram emphasised that his office directly handles all complaints related to education loans.

Investment-led growth alone would bring about tangible benefits to the people, the Minister said. Growth alone would bring the funds required to execute development projects, he added.

Attempts are being made to bring down the fiscal deficit of the States and Kerala has been making a serious effort to do this, he added. Earlier, addressing the gathering organised to mark the re-launch of Veekshanam daily, he expressed the belief that the Indian economy would grow at 7.5 per cent every year.

The UPA Government had earmarked outlays for various development sectors. It had spent Rs 1,15,000 crore on the farm sector, bringing 67 lakh new farmers under the cover of credit.

This year's target of Rs 1,41,000 crore will be exceeded. Over 5.38 lakh new self-help groups have been formed and this venture will be further promoted, the Minister said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page