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Finance | June 2012

Government plans system to expedite infra projects

 In order to expedite infrastructure projects worth over Rs 1,000 crore, government plans to set up Investment Tracking System. Govt decided to set up the tracking system in the context of delays faced by projects on multiple fronts - security clearances, environmental clearances, other clearances, land related matters, etc. The system is expected to fast-track projects that are stalled or delayed because owing to hurdles like environment clearance, land acquisition and so on. The system would submit quarterly reports so that corrective measures could be taken to ensure speedy implementation. While implementation of public sector projects of over Rs 1,000 crore will be tracked by the National Manufacturing Competitiveness Council, those in the private sector would be monitored by the Dept of Financial Services in the Ministry of Finance, a statement from PMO said.

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