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Meet to consider infrastructure under priority lending
Infrastructure funding could be categorised as priority sector lending to help flow of bank credit into building power plants, ports and roads. The Finance Ministry is studying the move and is to discuss the issue with bank chiefs on November 6. The agenda for the meeting labels the idea as a measure to strengthen priority sector lending and suggests “a review of the entire gamut of priority sector and its various components in view of the changes taking place in the economy.” Inclusion of infra finance in the priority sector to “push up financial flows to infra development” and making priority sector targets region-specific are some of the ideas to be taken up at the talks.
Panel, Broadcast Council scrapped
The Government has scrapped the Parliamentary Committee which was to oversee the functioning of the Prasar Bharati Corporation, by amending the Prasar Bharati Act through an ordinance issued on October 29. At a press briefing on Friday, Mr. S. Jaipal Reddy, Minister for Information and Broadcasting, said the decision had been taken since there was already a Standing Committee of Parliament for this sector. The Standing Committee was instituted in 1993, three years after the Act had originally conceived of a Parliamentary Committee.
Ministries to discuss coal industry status
The Coal Ministry’s case for infrastructure JL status to the coal sector received a boost during today’s review meeting conducted by the PM, Mr, I.K. Gujral. At the meeting, the Finance Minister assured that his Ministry would engage in discussions with the Coal Ministry on this Issue. The awarding of the infrastructure status would help catalyse private investment in the coal sector thanks to tax breaks.
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