The members of the cabinet committees included Union ministers from the Bharatiya Janata Party and its National Democratic Alliance partners like Janata Dal-United, Telugu Desam Party, Janata Dal-Secular, Shiv Sena and Lok Janshakti Party-Ram Vilas.
Union ministers Virendra Kumar, Kiren Rijiju and Anurag Singh Thakur have been included in the rejigged Cabinet Committee on Parliamentary Affairs headed by Defence Minister Rajnath Singh, according to a notification issued by the Cabinet Secretariate last night.
Economy has become a major cause of concern for the new government with GDP dropping to 5.8 per cent in the last quarter of the 2018-19.
Collusion between ruling parties, corporate donations under Companies Bill is hidden. Environmental concerns made subservient to Cabinet Committee on Investment and regulatory agencies made toothless. Promotion of hazardous technologies for generating power from waste is anti-public health, say activist Gopal Krishna.
Of these, 14 have received environmental clearances and four forestry clearances.
Infrastructure development has come to a standstill despite all the promises.
Pinning hopes on the newly set up Cabinet Committee on Investment (CCI), the Economic Survey today said that specific issues facing the infrastructure sector need to be resolved to revive investment climate and propel sustainable growth.
CCI has also raised the ceiling of 4,000 km of four-laning under the National Highways Development Project phase-IV to 8,000 km on a build, operate and transfer (BOT-toll) mode.
The newly formed Cabinet Committee on Investment will soon consider clearing 47 oil & gas blocks, including Reliance Industries' producing KG-D6 gas fields, where defence clearance has either been withdrawn or withheld.
A series of mega projects that have faced bottlenecks and which the Cabinet Committee on Investments has to clear.
The Union Cabinet on Monday cleared the proposal to set up Cabinet Committee on Investment under the Chairmanship of Prime Minister Manmohan Singh to accord expeditious approval to projects of over Rs 1,000 crore (Rs 10 billion).
A key beneficiary of the CCI impetus has been the petroleum sector, where investments worth $13.42 billion for exploration and production activities in 40 oil blocks were held up.
It would be a Cabinet Committee on investments, to be chaired by Prime Minister Manmohan Singh.
In its first decision, the Cabinet Committee on Investment (CCI) on Wednesday cleared Reliance Industries' producing KG-D6 block and gas discovery area NEC-25 along with 3 other areas where the Defence Ministry had either barred oil and gas activity or put stringent conditions on that.
Industry chamber Ficci has sought details from the government about the "actual progress" of the mega infrastructure projects cleared by Cabinet Committee on Investment.
With Prime Minister Narendra Modi emphasising the need to kick-start investment in the country, the project monitoring group (PMG) under the Cabinet Secretariat has asked various government departments to start monitoring projects for which clearances have been facilitated through this mechanism.
For Swarup, the job would not be just challenging but also tricky, given the negativity attached to the sector.
Around Rs 40,000 crore (Rs 400 billion) investment in the power sector is in limbo for want of government decision on allocation of natural gas to the proposed electricity stations.
Chidambaram first met bankers and industrialists in Mumbai to seek ways to revive slowing economic growth.
The Reserve Bank on Monday pitched for creation of a conducive environment for investment and faster clearances of projects to boost economic growth which slowed to a decade low of 5 per cent in the previous fiscal.
According to the Dun & Bradstreet CFO optimism index, nearly half of the surveyed CFOs expressed optimism regarding the macro economic scenario for the Indian corporate during the April-June quarter of this year.
'The AMs are a different beast and reflect the political play within the government.' 'Prime Minister Modi does not need to assuage any interest group to take the final call on any decision that belongs rightfully to the Cabinet,' points out Subhomoy Bhattacharjee.
Reserve Bank, in its mid term review of the monetary policy on Friday, decided to hike short term policy rate by 0.25 per cent after a gap of two years and ease liquidity by reducing the marginal standing facility rate for banks.
The economic growth slowed to a decade low of 5 per cent in the 2012-13 fiscal.
The Reserve Bank of India is likely to cut policy rates by 0.25 per cent and keep the cash reserve ratio unchanged at its policy review next week, on the back of slower-than-expected growth and more encouraging inflation readings, says a report by HSBC.
It is clear that foreign airlines have realised the growth possibilities of the Indian aviation sector and are keenly interested, the minister said.
India's GDP is poised to accelerate to 5.5 per cent in 2014-15 on the back of improved performance in industry and services but it may take some time for the country to reach its potential growth rate, says an Asian Development Bank (ADB) report.
As against an annual average growth of 10-11 per cent envisaged for the industry during the period, the actual annual average growth stood at 7.2 per cent during the plan period.
The rating agency official did raise concern about the banks' non-performing assets.
The brokerage said it has high hopes for recovery and reforms following the general elections.
Committing to more steps to boost economy, the Finance Ministry said initiatives taken by the government in the past one year will boost investment and revive the sagging growth.
Rajan said it was important that the government and the RBI be vigilant to the growth scenario.
The second-quarter GDP numbers are scheduled to be announced on Friday.
Indian economy is expected to improve marginally in the current financial year with its GDP at market price projected to expand by 3.4 per cent from 3.3 per cent in the previous fiscal, think tank OECD said.
Sectoral players feel addition of rooms could hit earnings.
Will help in reviving the economy and push investment.
The main issues confronting CFOs currently, according to Deloitte, are the current economic slowdown, a depreciating rupee and inflation.
Global rating agency Fitch on Friday pegged India's growth at 5.5 per cent in the current fiscal and 6 per cent in 2015-16 and affirmed the country's rating outlook at stable level.
The Reserve Bank on Tuesday said growth is expected to fall below 5 per cent in 2013-14 in absence of pick-up in manufacturing sector, but likely to recover to 5.5 per cent in the next financial year.
A report card titled '10 Years of Progress and Growth' highlighting achievements of the government led by Prime Minister Manmohan Singh on Friday said 'average GDP growth rate during the period of UPA government (2004-05 to 2013-14) has been 7.7 per cent despite two global slowdown in this period'.
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