If the Prime Minister's Project Monitoring Group (PMG) digitises the project approval process and makes it a one-window system it will bring in the much- needed transparency and create a new landmark in governance, says a report.
The major task of the PMG is to facilitate clearance for about 450 stalled projects worth over Rs 21 trillion (Rs 21 lakh crore). Since its setting up in June 2013, the PMG had cleared stalled projects worth over Rs 5 trillion.
The group itself does not clear the project, but sets up the process, and asks the individual ministries to monitor their targets, which eventually leads to the clearance.
"These are simple but powerful initiatives through web portals," Deutsche Bank said in a report.
The German brokerage house recently had meeting with the officials of the finance, power and road transport ministries, Indian Railway Finance Corporation and the PMG and the report is penned with their inputs.
The report said this learning is now getting crystallised into a policy that will likely lead to a single window clearance mechanism.
"The process has already started with digitising forest clearances and this will be extended to environmental and mining clearances before the end of the year and even coal, next year," it said.
The new system which monitors stage wise approvals and compliance mechanism will enable real time monitoring of proposals to ensure that stipulated timelines for processing by state and central authorities are adhered to.
More importantly, it will bring in complete transparency in the dealings between the applicant and relevant ministries, and will also lead to responsibility, the report said.
"While it is still early days, we believe that if this mechanism is successful we may see this creating a new landmark in governance," Deutsche Bank report said.
