CII urges Govt to take steps to push infra projects

The Confederation of Indian Industry (CII) has raised 12 core issues to the government in an attempt to rejuvenate business confidence and to get industrial growth back on track.

A delegation headed by Vinayak Chatterjee in its meeting with Dr C. Rangarajan, Chairman of Economic Advisory Council to the Prime Minister, and Pulok Chatterji, Principal Secretary to the Prime Minister, urged the government to take steps to release payments worth around Rs 1,00,000 crore to private companies for various projects that are stuck in the public system and requested approval for clearance of New Urea Investment Policy which will lead to take-off brownfield projects worth Rs 25,000 crore.

The delegation has also suggested two debt restructuring exercises for infrastructure companies, considering their stressed balance sheet. Vinayak Chatterjee emphasized on the need for a national infrastructure bond having gold either mortgaged or liquidated, to convert un-productive to productive assets in the company.