PMG tries to expedite the stalled power and infra projects
Anil Swarup the Head of the Government’s Project Monitoring Group (PMG) came out with a data which is not very favourable for India Inc. He mentioned that about 230 major projects involving over Rs 5 lakh crore of investments are pending at various stages.
From June last year, over 150 projects have been cleared on fast track and the Government is keen on clearing the pending projects. The Power sector and the infrastructure sector of the country need a strong boost and the government is trying to do everything to expedite these projects. Swarup told this to the reporters on the side-lines of a review meeting on pending projects with State Government officials and industry representatives.
About 60 % of the pending projects are in the power sector, and they are stalled due to the issues in fuel supply agreements (FSA). Apart from the power sector projects, there are infrastructure and other sector projects too.
The project monitoring group (PMG) at the Centre is facilitating clearances for projects which are struck through its portal. They want to increase transparency and hence e-governance is allowed at all the stages.
PMG wants to clear the large projects first and any project involving with cost of over Rs 1,000 crore could approach the PMG with a request and their requests will be put in the fast track. Hopefully once these projects are complete, it will diminish the power woes of the country.
Source- The Hindu Business Line
business and finance, Economy, energy and resource, Infrastructure and construction, Infrastructure projects, Prime Minister’s Project Monitoring Group, Project Monitoring Group
