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The Cabinet Committee on Investment (CCI) has cleared 171 projects worth Rs 1.69 lakh crore, Parliament was informed today.
As on August 5, 2013, CCI has given clearance or issued direction for 171 projects entailing a total investment of Rs 1,69,426 crore, Minister of State for Finance Namo Narain Meena had said in a written reply.
The government has set up the CCI with headed by Prime Minister Manmohan Singh as the chairman to expedite decisions on approvals or clearances for implementation of projects, he said.
It is likely to bring about transparency, efficiency, accountability and promptness in the implementation of major projects, he said.
A per the information available from banks, he said, various infrastructure projects in private sector are stated to be stalled or pending for want of regulatory clearances from various departments or agencies of central and state governments due to which banks or financial institutions are not in a position to release funds.
The stalled projects are initially tracked by a project monitoring group wherein ministries or department concerned discussed issues that are adversely impacting implantation of the identified projects, he said.
A web-based information system has also been put in place wherein entrepreneurs can provide details of their project as well as the issues that are inhibiting smooth implementation, he said.
Based on the discussions, efforts are made to expedite clearances approval, he said, adding, final decisions or unresolved policy issues and clearances are taken by CCI.
In reply to another question, Meena said inflation in general, and food inflation in particular, is likely to affect the people in the unorganised sector and weaker section more as, unlike the people in the organised sector, they are not compensated for rise in inflation.
However in March 2011, the government has decided to index MGNREGA wage rate to consumer price index (CPI) for agricultural labourers (CPI AL) on annual basis to ensure that MGNREGA workers are protected against inflation, he said.
