CCI for speeding up clearances of infra projects

In a bid to boost business sentiment in a slowing economy, the Cabinet Committee on Investment (CCI) on Monday set a 60- day deadline for ministries to clear bigticket infrastructure projects in the power, coal and highways sectors.

According to sources, CCI has decided to ask the ministries concerned to clear expeditiously as many as 36 infrastructure projects stuck due to delay in various sanctions.

"The committee has asked the concerned ministries to give a go- ahead to pending 36 core sector projects, including 28 power plants, in the next 60 days, sources said.

The government has come under severe criticism as the economic growth rate has slowed to a decade low of five per cent and India Inc has been worried over the slow decision making.

These projects have been held up as the government has turned weak after a spate of scams.

An emboldened opposition has also mounted pressure and succeeded in stalling vital economic reforms that could have brought in much- needed FDI. In its last meeting, the CCI cleared the proposal for setting up two hydro power projects in Arunachal Pradesh. The panel has so far cleared 171 projects worth ` 1.69 lakh crore.

The government set up the CCI, headed by Prime Minister Manmohan Singh, to expedite decisions on approvals for implementation of projects.

The stalled projects are initially tracked by a project monitoring group wherein ministries or department concerned discuss issues that are adversely impacting implementation of the identified projects.

A web-based information system has also been put in place wherein entrepreneurs can provide details of their project as well as the issues that are inhibiting smooth implementation.

Courtesy: Mail Today