PM lines up policy blitz this month

Prime Minister Manmohan Singh is determined to push through a number of policy decisions before the start of the winter session of Parliament on December 1.

These include the setting up of a pension regulator through an Ordinance, licensing norms for direct-to-home telecast and modernisation of six airports.

Also, comprehensive legislation on special economic zones and a Bill to set up a common regulator for the securities and commodities markets are expected to be taken up by the Union Cabinet in coming weeks.

The finance ministry is also pushing for easier norms for private banks and steps to increase functional and managerial autonomy in state-owned banks and insurance companies.

The government is now looking for candidates to chair the Board for Reconstruction of Public Sector Enterprises and the Investment Commission.

Singh is eager to wrap up all pending work as he feels there will be little time to look into pressing policy matters once the winter session starts.

"The decisions will come in very fast as the Prime Minister is scheduled to visit The Hague to address the European Union this month," PMO sources said.

The finance ministry had been mulling an Ordinance for setting up the Pension Fund Regulatory and Development Authority. However, the plan was dropped following the promulgation of Ordinances for multi-state cooperatives and amendments to the Securities Contract (Regulation) Act and the Depository Act last month.

The pension regulator is expected to streamline the industry. Only after the law governing the regulatory body is in place, can the proposed regulator frame guidelines for the entry of players in the sector, according to the officials.

Singh's list also includes the modernisation of six airports in Kolkata, Chennai, Hyderabad, Chennai Mumbai and Delhi.

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