Centre tracking 315 stalled projects worth Rs 13.3 lk crore: V K Singh, Statistics Minister

NEW DELHI: As many as 315 stalled projects entailing huge investment of Rs 13.33 lakh crore are being handled by the Centre's Project Monitoring Group (PMG) for speedy resolution of bottlenecks, Parliament was informed today.

"315 projects are under consideration or to be considered by the PMG," Statistics Minister V K Singh said in a written reply to the Rajya Sabha today.

According to the statement, the PMG has informed that as on July 24, there are 285 projects still under consideration costing Rs 12.27 lakh crore and 30 projects cost Rs 1.06 lakh crore are yet to be considered by the sub-groups.

The PMG was set up in the Cabinet Secretariat to track stalled investment projects, both in public and private sectors and to remove implementation bottlenecks in these projects.

The minister said that the issues uploaded by project proponents on PMG portal mainly related to various clearances of ministries including environment and forests, land acquisition and land related matters, financial issues, fuel and transportation issues etc.

Some of these issues are structural or macroeconomic in nature like lack of demand or equity, he added.

PMG expedites resolution of pending issues through constant monitoring and follow-up. It has conducted 337 meeting with the central ministries and 112 meeting with state government so far. As a result, issues of 272 projects with an investment of about Rs 9.44 lakh crore have been resolved, the minister said in the reply.