India
NEARLY 2,000 LARGE INFRASTRUCTURE PROJECTS ARE PENDING
GOVERNMENT SITTING ON PROPOSALS WORTH Rs 24 LAKH CRORE
2016-01-04 09:39
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Within six months of the NDA government’s coming to power in May, 2014, the project monitoring group (PMG) was moved from the cabinet secretariat to be under the prime minister’s office (PMO). The intention was to push 225 big-ticket projects worth Rs. 13 lakh crore pending since the UPA government era. Of them, 194 belonged to the category involving individual project investment of Rs. 1,000 crore and above. However, the total number of pending projects till the end of the previous Congress-led UPA government was much larger, numbering, as per official records, 494. The estimated cost of all these projects was Rs.24.68 lakh crore at 2013 prices. What had reportedly held up these projects were a multi-layered red tape obstruction involving as many as1,622 issues requiring as many solutions or clearances.