RailEnquiry

NEW DELHI: A panel on Wednesday recommended raising railway passenger fares and electricity tariff among a string of measures needed to fast track infrastructure development.

The panel headed by HDFC chairman Deepak Parekh, which submitted its report to the government on Wednesday, also called for raising the foreign direct investment (FDI) limit in the telecommunications sector to 100% from the current 74%, removing regulatory uncertainties related to allocation , pricing and sharing of spectrum allotted in the past and rationalizing mergers and acquisition policies to facilitate consolidation in the sector. The panel had been set up to examine gaps in the infrastructure sector and suggest steps to accelerate financing projects in the key segment vital to boosting growth.

The panel, which submitted its report to Prime Minister Manmohan Singh, has also recommended that issues related to the General Anti-Avoidance Rules (GAAR) and delays in environmental clearances and land acquisition be resolved to attract investment in the infrastructure sector. "Overarching impediments such as delays in land acquisition and environmental clearances, taxation/ GAAR related issues and regulatory uncertainties need to be addressed urgently," the panel said in its report.