With a view to keeping a close tab on the regulators, the Prime Minister, Dr Manmohan Singh, on Monday said that the Government is considering enactment of a law to monitor them.
The Prime Minister also promised introduction of a Bill in the winter session of Parliament for the Government’s purchase policy.
While delivering his speech from the Red Fort on the occasion of the 65th Independence Day, Dr Singh said, “We have no legislation which would enable monitoring of the work of these regulatory authorities and make them more accountable, without, however, compromising their independence.”
Accepting the need for a Government appointed committee to tackle corruption in awarding of Government contracts, he said, “We should also have a public procurement legislation which lays down the principles and practice with regard to government purchases.”
Inflation worries
The Prime Minister also reiterated that taming inflation is top of the agenda. “We are continuously monitoring the situation to find out what new steps can be taken to arrest rising prices,” he said.
As on July 30, food inflation rose from 8.04 per cent to 9.90 per cent. Similarly, the headline inflation, for June, has reached 9.44 per cent.
Land acquisition
Another issue worrying the Government is land acquisition. However, the Prime Minister assured that no injustice would be done in the process of land acquisition.
“Our Government wants to replace the 117-year-old land acquisition law by a new Land Acquisition and Rehabilitation law which is forward-looking and balanced,” said the PM.
Environmental assessment authority
While according high priority to development, the PM felt that preserving environment was a huge challenge. He promised that an environmental assessment and monitoring authority to streamline the process of environmental clearances would be set up in the coming months.