Damodaran committee report on biz climate likely next month

NEW DELHI: Amid efforts to attract more investments into the country, the government-appointed Damodaran panel is expected to come out with suggestions by June-end on improving overall business climate.

The committee, set up by the Corporate Affairs Ministry, is headed by former chairman of Securities and Exchange Boards of India M Damodaran.

The panel is expected to submit its report to the Ministry by the end of June. A communication in this regard is also believed to have sent to the Finance Ministry, according to sources.

The panel, comprising industrialists, business chiefs, representatives from regulatory authorities and government officials, is anticipated to come out with actionable suggestions that would help in improving the business climate.

Finance Minister P Chidambaram, while presenting the Budget for 2013-14, had said that doing business in India must be seen as easy, friendly and mutually beneficial.

The Damodaran committee was established in August 2012 against the backdrop of concerns among industry and investors on perception of policy paralysis and lack of required economic reforms.

A raft of issues including infrastructure development were deliberated upon by the panel during its meetings. The first meeting of the committee was held in October last year.

Aditya Birla Group Chairman Kumar Mangalam Birla, ITC Chairman Y C Deveshwar, Mahindra Group Chairman Anand Mahindra and Tata Sons Director Ishaant Hussain are among the members.

SBI Chairman Pratip Chaudhuri, NTPC chief Arup Roy Choudhury, BHEL chief Director B P Rao, representatives from Sebi, Reserve Bank of India and the Ministries of Corporate Affairs, Finance, Power, Petroleum, Highways, Commerce and Industry and Urban Development are also part of the panel.

Recently, Corporate Affairs Minister Sachin Pilot had said that he has asked the committee for concise, tangible and actionable suggestions.

While setting up the panel, the government had stressed on the need for carrying out an in-depth study into the entire gamut of regulatory framework and come out with a detailed roadmap for improving business climate in India.