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T V Narendran, MD Tata Steel, India and South East Asia.
T V Narendran , MD Tata Steel, India and South East Asia. The IT sector has hue expectations attached to the Interim Budget 2014, largely because of the present economic volatility. In order to spark an industrial revival, the Finance Minister P. Chidambaram has tried to implement a time-bound, simple mechanism that is fair to all stakeholders, and encourages economic activity in the country. “The government's move to provide relief to the struggling manufacturing sector augurs well for the steel industry. However, it needs to be noted that the industry's problems are more structural in nature”, explains T V Narendran , MD Tata Steel, India and South East Asia. “ While the finance minister has highlighted the role played by the Cabinet Committee on Investment in clearing stuck projects, there is urgent need for a comprehensive review of the entire mechanism for grant of clearances (such as the environmental and forest clearances) to industrial projects in the country”, he further adds.
