16 January, 2021

Digging In The Wrong Grave

Eco Survey upends notion that ‘Jayanthi green tax’ stifled private sector projects

Jitender Gupta
Digging In The Wrong Grave

Chief economic advisor Arvind Subrama­nian’s first Economic Survey belies many popular notions about investing in India. What most afflicts private investment is not the “Jayanthi tax”, a sarcastic reference to UPA environment minister Jayanthi Natara­jan. Nor is India Inc the biggest victim of the regulatory maze. The culprit behind the bad state of private sector projects, the survey says, is “exuberant and misdirected private inv­estment”. In other words, the private sec­tor itself is responsible for making investme­nts that are going nowhere.

The worst sufferer of regulatory hurdles is actually the government. The survey says, “It is clear that private projects are held up overwhelmingly due to market conditions and non-regulatory factors...government projects are stalled due to lack of clearances.”

The Eco survey also makes the Priya Pillai episode look over-the-top. The ‘green’ activist was prevented from leaving India to speak about environmental (de)regulation. Its findings, based on...



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