PM promises to allay fears of investors'

Prime Minister Manmohan Singh on  Saturdaydeclared that government will soon announce steps to stave off investors’ fears ensuing from measures like anti-tax avoidance rule and retrospective amendments and hinted at a fast track mechanism to speed up clearance of infrastructure projects.

Terming the recent decisions to reduce fuel subsidies to bring down fiscal deficit as “politically difficult” ones, he said “we bit the bullet and did what we felt was the right thing to do”.Speaking at the Economic Times function for award for corporate excellence, Singh said the government was mindful of the effects such steps have on the poor and vulnerable and “we will take all possible measures to protect their lifeline needs”.

“We have dispelled gloom and doom, improved the climate for foreign investment,” he told captains of India Inc.

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