Industry body, Confederation of Indian Industry (CII) has hailed the government’s latest policy decision of the disinvestment in Coal India, 3 per cent interest subsidy for exporters, and clearances to road and rail projects and said that they are all steps to revive the Indian economy. It further said that disinvestment in Coal India will help in reviving the Indian economy and would go a long way and boost the investor sentiments.
CII President Sumit Mazumder , highlighting the Cabinet approval for excluding land costs from highway projects said that this move will help fast-track road project clearances and the relief offered to concessionaires of roads and highways projects would go a long way towards alleviating financial distress and reviving stalled projects.
Mazumder commenting on interest subvention scheme said the decision would boost labour intensive exports and make Indian exports more competitive. Besides, the decision of Cabinet Committee on Economic Affairs (CCEA) to pay a production-linked subsidy of Rs 4.50 per quintal directly to cane farmers in the 2015-16 season to help cash-starved sugar mills clear arrears will also help the economy.