Projects stalled due to delay in clearances
With almost 300-mega projects worth about Rs 15 lakh crore remaining stalled due to delay in clearances, PM Narendra Modi on Friday directed all ministries to monitor online the progress of infrastructure development, including foreign ventures of state-owned undertakings.
Since the government has approved 100 percent FDI in railways, Modi asked the ministry to come up with a “comprehensive plan” for facilitating FDI in the sector. He also emphasized the need to move forward with the linking of ports project “Sagarmala” as a key driver for his “Make in India” programme of making the country a global manufacturing hub.
The move comes after a review of progress of eight major infrastructure sectors —civil aviation, ports and inland waterways, railways, roads, telecom, power, coal and renewable energy. The review coincides with release of IIP data that showed industrial growth crawling at 0.5 percent in July with the infrastructure sector, which contributes 38 percent to IIP, growing just 2.7 percent.
“Make in India” is going to be one of the leading key projects that is going to be operated from soon.
Source: The Financial Express
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