Moily for speedy approval to projects

M Veerappa Moily, who took charge as the petroleum minister on Monday, has promised to expedite decisions and create an environment conducive to drawing investments. His announcement saw the Reliance Industries stock jump 1.5 per cent to close at Rs 811.20 on BSE, even as the benchmark Sensex rose a mere 0.06 per cent. The company has faced delays in securing clearances for investments aimed at raising output.“Emphasis will be on quick decision-making and innovation. Delaying decisions will cost the nation. We do not want any delay in decisions,” Moily said.