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The economy will start steam-rolling again in the next three-six months, said a top Finance Ministry official citing the Government's efforts in kick-starting stalled projects.
“The Government has created a special group, headed by an officer in the Cabinet secretariat, to look into each of the stalled projects…things will get better soon,” said Rajiv Takru, Financial Services Secretary.
In three to six months, the economy will be really running, he said.
There are 215 projects which have been stalled at various stages of implementation due to several reasons like administrative delays, want of environment clearances among others. Investments worth Rs 7,00,000 crore are stuck.
Another 126 projects, which have been approved, are yet to take off. Investments in these projects are worth Rs 3,50,000 crore.
Takru said that some of these projects will soon see the light of the day. That there have been administrative hurdles in getting these projects off the ground is “disappointing”, he said.
The financial services secretary also said that the bad loans problem for public sector banks will ease soon once these projects start rolling.
>satyanarayan.iyer@thehindu.co.in
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