Damodaran panel on biz climate yet to make much headway
New Delhi: A government-appointed panel, comprising officials and corporate leaders, to suggest steps to improve India's business climate is yet to make much headway with members meeting only once since its inception in August.
Headed by former Sebi chief M Damodaran, the committee currently has around 25 members including representatives from government and regulatory authorities, heads of public sector companies and industrialists like Anand Mahindra and Aditya and Kumar Mangalam Birla.
Set up by the Corporate Affairs Ministry, the committee is expected to submit the report in six months from the date of its first meeting, which was held on October 11.
Sources said the panel has only met once so far and all members were not present at that meeting.
"Sub committees (to look into specific issues) are yet to be finalised. We are yet to decide on the next date for our panel meeting. Hopefully, there could be a meeting in late January," a panel member said.
Since the first meeting, at least four new people have been included in the committee. They are State Bank of India Chairman Pratip Chaudhuri, NTPC Chairman and Managing Director Arup Roy Choudhury and BHEL Chairman and Managing Director B P Rao besides a member of the Planning Commission.
The panel, a brainchild of former Corporate Affairs Minister Veerappa Moily, was announced in August when there were concerns among industry and investors, about perception of policy paralysis and lack of required economic reforms.
Besides, Mahindra Group chairman Anand Mahindra and Aditya Birla Group Chairman Kumar Mangalam Birla, other panel members include ITC Chairman Y C Deveshwar, Tata Sons Director Ishaant Hussain and Teri Vice-Chairman R K Pachauri.
Representatives from Sebi, Reserve Bank of India (RBI) and the Ministries of Corporate Affairs, Finance, Power, Petroleum, Highways, Commerce and Industry and Urban Development are also part of the panel.
"There is a need to conduct an in-depth study into the entire gamut of regulatory framework and come out with a detailed roadmap for improving the climate of business in India in a time bound manner," the government had said while announcing about the committee in August.
After the first meeting in October, Damodaran had said sub committees would be set up to look at specific issues and then engage with the stakeholders.