Finance Minister P. Chidambaram today said, projects worth over 1 lakh, 82,000 crore rupees cleared by the Cabinet Committe on Investment (CCI), will restart the investment cycle accelerating economic growth. Briefing reporters today on the decisions of CCI, Mr. Chidambaram said, these include 18 power projects needing 83,772 crore rupees investment for which the banks have already disbursed over 30,000 crore rupees. For a second lot of nine infrastructure projects with 14,084 crore rupees investment, 1484 crore rupees have been disbursed. The Finance Minister said, 25,034 crore rupees have been disbursed for a third lot involving another 9 projects with 85,141 crore rupees investment. He said, the Fuel supply agreements for 18 power projects will be signed by the 6th of next month. Mr. Chidambaram said, the bottle-necks on stalled projects have been removed and the banks will begin to disburse so that investment takes place. This would spur a lot of economic activity in the country, he said.

The Finance Minister also said, fiscal deficit will be contained to 4.8 per cent and the red line in the Budget will not be breached. He said enough money has been provided for the roll out of Food security program and even after this expenditure,the fiscal deficit will remain within the budgeted limit. He also said, after the Food Security bill the next in line is the Land Acquisition Bill listed to be taken up for consideration and passing in Parliament.
In reply to a question, Chidambaram said, the Rupee is undervalued and has overshot its true value. He also said, the Rupee will find its appropriate level and we have to be patient, firm and do whatever required.