Mechanism soon to track progress of infra projects above Rs 500 cr

In a bid to give a fresh momentum to the economy, the Government will soon devise a mechanism to track the progress of infrastructure projects of above Rs 500 crore and ensure that they are expedited.

Following the direction to formulate such a tracking mechanism by the Prime Minister's Office, the Government is now expected to hold an inter-ministerial discussion to chalk out the strategy and the fine print.

The concerned Ministries including telecommunications, power, petroleum, coal, civil aviation, railways, shipping, ports, road transport and highways are scrutinising such mega projects under their purview to give inputs to the Commerce and Industry Ministry, which is the nodal body in this regard.

The details that these Ministries are furnishing are on the ongoing and pending (those awaiting clearances) projects including their location and the company/agency implementing it.

The particulars also include the expected date of completion of these projects, status of clearances needed from the Centre and the State Government including on environment, land acquisition, forest and pollution as well as techno-economic clearances and clearances regarding registration of the companies.

They will also submit details on whether these projects have been assured the necessary power and water availability as well as the status of rehabilitation and resettlement package.

Besides, the ministries will have to provide the estimated investment and investment already made; sources of funding and the status of financial closure and the outcome; as well as the status of complementary infrastructure such as roads, railways, airports and ports.

The other main details that have been sought are concerning policy issues involving these projects including pricing subsidy, geographical spread (including on backward areas, North-Eastern Region and special category states), as well as changes in regulatory policy.

Mr. Vinayak Chatterjee, Chairman CII National Taskforce on Regulatory Framework and Chairman, Feedback Infrastructure Services Pvt. Ltd, said if the Government has recognised the need to speed up infrastructure projects, it should soon institutionalise the mechanism for doing it by setting up a separate Infrastructure Ministry or a ‘Board for Infrastructure Fast-tracking'.

“We have been asking the Government to speed up infra projects and a mechanism to institutionalise expediting such projects for the past three years. Though the PMO's initiative seems to be an ad-hoc one, it is welcome,” he said.