Damodaran panel likely to submit report soon on business climate

NEW DELHI: The Damodaran panel, comprising government officials and corporate honchos, looking into ways to improve the country's overall business climate is likely to finalise its report soon.

Set up by the Corporate Affairs Ministry, the nearly 25- member committee is headed by former Sebi Chairman M Damodaran.

The members include representatives from government and regulatory authorities, heads of public sector companies and industrialists like Anand Mahindra and Kumar Mangalam Birla.

According to a Ministry official, the committee has met twice so far.

"The second meeting, which was held recently in Mumbai, saw extensive discussions on various issues... The panel is likely to finalise its report soon," the official said.

A slew of topics including infrastructure development and regulatory issues have been deliberated upon by the committee. The panel is expected to submit the report in six months from the date of its first meeting, which was held on October 11.

The formation of the committee was announced in August last year amid concerns among industry and investors, about perception of policy paralysis and lack of required economic reforms.

Mahindra Group chairman Anand Mahindra and Aditya Birla Group Chairman Kumar Mangalam Birla, ITC Chairman Y C Deveshwar, Tata Sons Director Ishaant Hussain, State Bank of India Chairman Pratip Chaudhuri, NTPC Chairman and Managing Director Arup Roy Choudhury and BHEL Chairman and Managing Director B P Rao are among the members.

A Planning Commission member also forms a part of the Committee.

Besides, there are representatives from Sebi, Reserve Bank of India (RBI) and the Ministries of Corporate Affairs, Finance, Power, Petroleum, Highways, Commerce and Industry and Urban Development.

"There is a need to conduct an in-depth study into the entire gamut of regulatory framework and come out with a detailed roadmap for improving the climate of business in India in a time bound manner," the government had said while announcing about the panel in August.