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News Brief | May 2013

Govt may set up coal regulatory authority in 4 months

In the next two to four months, Indian government plans to set up an independent regulatory authority for coal sector, Finance Minister P Chidambaram said at the Canada India Business Council meeting. The proposed regulatory authority would become effective mechanisms to address problems being faced in the implementation of coal projects. The meeting is part of his campaign in North America for wooing foreign investments into India. The meeting was attended by over 100 CEOs of top North American companies. Referring to the fiscal position of the Indian government, Chidambaram said that the government was committed to bring down the fiscal deficit. Chidambaram invited Canadian investments in sectors like infrastructure and food processing and projected India as an attractive investment destination with stable fiscal regime.
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