Critical small projects too will get CCI push
According to official sources, although the CCI will focus on fast-tracking clearances for projects above the R1,000-crore threshold, a parallel process is on to augment the capacity of the committee so that it can, over a short period of time, expand its ambit and help expedite even other projects.
The Cabinet secretariat coordinating the effort will soon open discussions on this with central ministries to compile a list of such important projects and the reasons for delays.
However, state government-related projects may not be included to avoid possible allegations of central ‘interference’, sources added. Last week, the Union Cabinet approved establishing a CCI chaired by the Prime Minister. Originally, it was proposed to be christened as National Investment Board (NIB).
According to the ministry of statistics, as of July, 198 projects of over R1,000 crore, originally entailing an investment of R6,36,098 crore, have been revised upwards to R7,38,125 crore due to delays and cost over-runs. Of these, 81 projects have been delayed. Power projects were the most in number at 30, followed by railways and petroleum (14 each). The finance ministry is talking to lenders and developers to verify amounts lent to these projects and find where they are stuck.
Though there are various figures ranging from R1.5 lakh crore to R9 lakh crore riding on these projects under different lists, the finance ministry wants to find out
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