Project Monitoring Group to be set up to expedite infra projects

Prime Minister Manmohan Singh has directed for the creation of a Project Monitoring Group who will monitor the implementation and fast tracking of all the 215 infrastructure projects of Rs. 7 lakh crore funded by banks.
The Group will be set up under the Cabinet Secretariat which will proactively pursue all large projects to ensure their timely commissioning.
Similarly, the Administrative Ministries, in consultation with the Finance Ministry, and the Finance Ministry on its own also were tasked with the identification of such priority projects. The Cabinet Secretariat was directed to hold a meeting with Chief Secretaries of States to have State Governments on board with this new mechanism.
A list of projects of the public sector from various ministries such as Coal, Power, and Shipping has already been compiled. FICCI has also submitted a list of 52 projects in the private sector, with an investment greater than Rs.1,000 crore, which are delayed due to various bottlenecks.
The Cabinet Secretariat has prepared an ‘Online CCI Projects Tracking System’ portal for tracking projects of over Rs.1000 crore.

Month: Current Affairs - June, 2013