The UPA government is working towards making India globally competitive and be among the top five nations of the world with ease to do business. Talking to the media at the Economic Editors Conference in New Delhi, Corporate Affairs Minister Veerapa Moily said, the government hopes to pass the Companies Bill in the winter session of Parliament. He said, the Cabinet has approved a number of amendments to the Companies Bill to fine tune the provisions of bill to serve the need of the growth of the corporate sector. He said, the Corporate sector in the country continues to grow at a steady rate and two lakh companies have been added in the last two years alone. Mr. Moily also said, a Commitee under former SEBI Chairman, M. Damodaran has appointed to address the issue of reported bottlenecks coming in the way of doing business.

Mr. Moily, also the Minister for Power said, the Southern grid will be integrated to the National Grid by the first quarter next year. Saying Grid security is national security he reiterated that Grid crisis will not be repeated. Mr. Moily said, backed by growth in the power sector, the country can hope to achieve double digit growth. He said also, the government is committed to providing electricity to the poorest of poor.

Mr. Moily said the National flagship scheme for rural electrification, the Rajiv Gandhi Grameen Vidyukthikarn Yojana has crossed its target of providing electricity to 1 Lakh villages. He said, under the scheme free electricity connections have also been provided to 1.75 crore BPL house holds. Mr. Moily said, the Power ministry has set a target of 88,537 MW of capacity addition in the next 5 years.