GAAR amendments finalised: FinMin
Taxes Code (DTC), a bigger matter, he said, "We have now started work. This morning I spent two hours on that. Earlier I had spent several hours. We are looking at it. We have tabulated it...will take final decision."
Chidambaram said that government was keen to get the investment engine going and measures were being taken by the government to create a "better climate".
Optimistic that the economy will still clock 5.5 to 6 per cent growth in the current fiscal, he said public sector undertakings have been put on notice to invest their surplus or be prepared to lose it while industrial houses will be "goaded" to invest.
"Today there is reluctance to invest because they (industry) perceive a number of hurdles to investment. They also don't see the economic situation very propitious or
conducive for investment.
"I think some steps we took in September have broken this wave of fear but some part of it is still there. We have to now get down to the detail, get each PSU, each sector, each business house why are you not investing. Invest. That is the effort," he said.
Chidambaram said no PSU will be allowed to fall short of its announced intention to invest. Performance of the CMDs will be measured on how much did he invest in terms of declared intention to invest.
"And now we are talking to individual business houses and goading them to invest. They are all sitting on piles of cash. We are also asking sectorally what is the hindrance
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