Try­ing to En­sure In­vestor Friendly Sys­tem: Min­is­ter

The Economic Times - - Economy: Macro, Micro & More -

Not­ing that straight­jacket ap­proach of bu­reau­cracy leads to de­lays, min­is­ter of state for ex­ter­nal af­fairs Gen VK Singh on Mon­day said the gov­ern­ment is try­ing to “straighten the sys­tem” to en­sure bet­ter in­vest­ment cli­mate for in­vestors. “There are prob­lems. Those prob­lems ba­si­cally come up be­cause we have a straight-jack­eted sys­tem in our bu­reau­cratic deals which is where a lot of de­lays take place...we are try­ing to straighten the sys­tem and we are try­ing to en­sure the sys­tem is in­vestor friendly,” Singh said at an event. There are prob­lems in grants or Line of Cred­its, he said.

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