rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » PM meets Jaitley, Goyal; discusses bottlenecks in power sector

PM meets Jaitley, Goyal; discusses bottlenecks in power sector

August 25, 2014 19:04 IST

Prime Minister Narendra Modi on Monday met Power and Coal Minister Piyush Goyal to discuss bottlenecks in the power sector and also deliberated on the fallout of the apex court's view on coal block allocation.

The Supreme Court today held that all coal block allocations made since 1993 till 2010 before pre-auction era during previous NDA and UPA regimes have been done in an illegal manner by an ad-hoc and casual approach without application of mind. Goyal met the Prime Minister along with Finance Minister Arun Jaitley.

"The Prime Minister desires that all issues which are urgent and need to be prioritised should be quickly resolved," he said before the meeting.

"As the PM has said in the past that this government works as an organic entity, it interacts with various ministries to learn and understand the priority issues and ways to resolve them on a real time basis," he added.

Meanwhile, Goyal is believed to provided an account of his work in the past three months to the Prime Minister.

These issues range from resolving the conflicts between power sector borrowers and banks.

The bankers have time and again raised the issue of delayed regulatory clearances, with the government, which led to banks and other financial institutions shying away from investing in the sector.

Meanwhile, on the apex court order, Goyal said, "This has brought a finality and closure to a dispute that has been there for many years."

"The economy can now move forward rapidly rather being cast with the shadow of uncertainty."

© Copyright 2014 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.