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Why the retreat?
The reported backtracking on the Tata-Raytheon project can hardly be explained by the Election Commission's diktat on poll conduct. For, the clearance of the project did not involve any policy decision and the union civil aviation ministry could have submitted its note to the cabinet and the latter could have also given its assent without attracting any criticism. One is not here deliberating on the merits or otherwise of foreign investment in such an area as construction of an airport and the focus is on a particular project that has been hanging fire for quite some time now. The minister-in-charge, CM Ibrahim was against the project for a long time but the fact that he and his deputy, Jayanthi Natarajan have finally formulated a proposal for consideration by the cabinet meant that Ibrahim had at last yielded to persuasion by the concerned quarters. It has been known that the PMO was in favour of the project going through. Considering this, the reported withdrawal of the note is intriguing.Details of the
note given in this newspaper earlier suggested that the ministry had taken care to incorporate aspects in the revised proposal that met adequately the objections raised earlier, particularly the clarification that the project was to be a joint venture between the Tata-led consortium and the central government. On this basis, there can be no basis for holding up the project. This will, obviously, be a set-back to the efforts of the Tata group to get into airport construction since the matter will have to be considered afresh after the elections and by the next government. What the latter would decide it is pointless speculating on now. But, no investor would rejoice over the prolonged impasse.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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