High Level Committee on Financing Infrastructure: Mr. Deepak Parekh New Chairman

The central government has appointed eminent banker Mr. Deepak Parekh as the new chairman of the High Level Committee on Financing Infrastructure (HLC on Financing Infrastructure).

The committee was first set up in 2010 under the chairmanship of Mr. Rakesh Mohan, former deputy governor of RBI (Reserve Bank of India).The committee was mandated to review existing policies & suggest necessary changes in the investment framework in the Indian infrastructure sector.

Mr. Deepak Parekh was appointed chairman of the committee earlier this month after approval from Prime Minister Mr. Manmohan Singh.

Rank of a Minister of State..!Mr. Deepak Parekh, who is the chairman of housing finance major HDFC, would function in an honorary capacity with the rank of a minister of state. Parekh is also a part of the sub - committee of the Prime Minister’s council on Trade and  Industry for promoting financial inclusion, besides being a member of the expert group on restructuring of  HAL (Hindustan Aeronautics Ltd).Mr. Parekh is known for his frank views on various policy issues &  has often been drawn in for consultation during crisis situations including in Satyam & UTI cases.

IRDA Chairman Mr. J.  Hari Narayan..!

The other members of this committee now include
Mr. R. Gopalan (Secretary, Department of economic affairs),
Mr. D. K. Mittal (Secretary, Department of financial services),
Indian Insurance Regulator IRDA Chairman Mr. J.  Hari Narayan,
PFRDA Chairman Me. Yogesh Agarwal,
RBI deputy governor Mr. Subir Gokarn,
SBI chairman Mr. Pratip Chaudhuri
LIC Chairman Mr. D K Mehrotra.The other members includePFC Chairman Mr. Satnam SinghICICI Bank chief Ms. Chanda Kochhar,
IDFC Chief Mr. Rajiv Lall, and also Uday Kotak, G M Rao, G V Sanjay Reddy, Sonjoy Chatterjee and Madhav Dhar.

Mr. Gajendra Haldea, advisor to Planning Commission deputy chairman, will be the member-convenor of the committee.

The special invitees to the committee include Railway Board chairman Mr. Vinay Mittal, Secretaries in power, Road transport and highways, urban development, petroleum & natural gas, telecom and water resources ministries, Sebi chairman Mr. U K Sinha, finance ministry’s chief economic advisor Mr. Kaushik Basu and the chief statistician Mr. T.C.A. Anant.

 Rs. 40,99,240 crore Investment..!Among other things, the committee would make recommendations relating to financing of the projected investment of Rs. 40,99,240 crore during the 12th five year plan period (2012-17)

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