“It is a dream project and it will improve State’s economy”
The Centre will soon file an affidavit in the Supreme Court explaining the necessity and urgency for implementation of the Sethusamudram project, according to G.K. Vasan, Union Minister for Shipping.
The affidavit would address issues related to environment, economy and history and appeal to the court to give permission to implement the project.
It would also answer certain questions raised by the State government before the Supreme Court, Mr.Vasan told reporters here on Sunday.
It was a dream project for Tamil Nadu and it would improve not only the State’s economy but also the entire country, he said.
Expressing confidence that the rupee would regain its value in course of time, Mr. Vasan said the economic downturn would also be reversed with the implementation of reforms.
Situation will change
“When developed countries are facing a severe economic crisis, it is difficult for India to overcome the crisis immediately. But by sustaining the reform measures, the situation will change,” he observed.
Mr.Vasan said the hike in crude oil prices globally had led to the rise in the prices of diesel and petrol.
“We also should not forget that the prices of diesel and petrol were reduced 12 times in the past,” he said.