CCEA decisions to revive economy, boost investor mood: CII

The decisions taken by the government today such as the disinvestment in Coal India will help in reviving the economy and boosting investors' sentiment, industry body CII said.
It said that the Cabinet Committee on Economic Affairs (CCEA) has taken some timely decisions.
"The Cabinet decisions are targeted at revival of the economy and would go a long way towards boosting investor sentiments," CII President Sumit Mazumder said in a statement.
Disinvestment in Coal India Ltd, 3 per cent interest subsidy for exporters, and clearances to road and rail projects are all steps in the right direction, he said.
"Initial public offering of Cochin Shipyard is a major first step towards unlocking the port sector," he added.

Mazumder said that excluding land costs from highway projects requiring Cabinet approval would help fast-track road project clearances.

"The relief offered to concessionaires of roads and highways projects would go a long way towards alleviating financial distress and reviving stalled projects," he added.
On the interest subvention scheme, he said the decision would boost labour intensive exports and make Indian exports more competitive.
The decision of CCEA on sugarcane would help alleviate distress of farmers as well as sugar mills, CII said.