New Delhi: Underplaying the controversy surrounding SEZs, Finance Minister P Chidambaram said on Friday the government was not a "divided house" although there may be a debate on the policy.
Chidambaram's comments came a day after Commerce Minister Kamal Nath sought the Prime Minister's intervention against a RBI directive to banks to treat SEZs at par with real estate projects for lending purposes.
"There is some debate on that (SEZ) policy, that does not mean that the Government is a divided house," he told reporters.
To a question on rising interest rates for SEZs following last week's RBI directive, the Finance Minister wondered as to how interest rates could harden when these zones had not yet started borrowing.
"RBI has indicated that how lending to SEZs (should) be categorised. It doesn't mean interest rates are hardening. I don't think that SEZs have started borrowing," he said.
When asked about ICICI's move to hold back lending to SEZs unless a clear policy framework emerged, the Finance Minister evaded a direct reply, saying ICICI is a private sector bank.
"ICICI does not authorise me to speak for them," he said. Nath had earlier criticised the Reserve Bank's decision as "inconsistent" because the central bank had previously praised the policy in its annual report.
On if Kamal Nath had spoken to him on this subject, Chidambaram said, "He has not spoken to me. But I am sure that he or we will speak to the RBI Governor."
Comments
0 comment