Govt to establish Investment Tracking System
An Investment Tracking System (ITS) has been approved to ensure speedy execution of major investment projects getting delayed for a number of reasons.It has been decided that major projects will be specially tracked to implement them faster to give a thrust to the economy.The decision has come at a time when projects are getting delayed on multiple fronts – environmental clearances, security clearances, other clearances, land related matters etc.
Under Investment Tracking System:
- National Manufacturing Competitiveness Council (NMCC) will track all Public Sector projects with an investment of Rs 1000 crore and above
- NMCC will submit a quarterly statement of all projects examined and any issues identified that seek resolution
- Department of Financial Services will watch projects with an investment of Rs 1000 crore and above in the private sector. The department may also use data available with the banking sector for this purpose
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Month: Current Affairs - June, 2012