Partly Cloudy
-3°CTue :PM Showers. High: 2 Low: 1

CCI clears Rs 1.83 lakh crore projects in Infrastructure

CCI clears Rs 1.83 lakh crore projects in Infrastructure

New Delhi: In a bid to ramp up investor sentiments, the government has cleared 36 projects worth Rs 1.83 lakh crore in power and other infrastructure sectors which were stalled on account of regulatory hurdles, Finance Minister P Chidambaram said on Tuesday.

The projects cleared across various infrastructure sectors include 18 in the power sector, entailing Rs 83,773 crore investment besides 18 others in sectors like Road, Railways, Petroleum and Natural Gas.

“Yesterday CCI met to look at a large number of projects. It cleared projects with a total outlay of Rs 1.83 lakh crore … Message that we are sending, we are very keen to get investment cycle restarted. The cycle has started and we are pushing it further,” Chidambaram told reporters.

Chidambaram said apart from power sector projects, where fuel supply agreements (FSAs) will now be signed by September 6 instead of earlier deadline of August 31, there are nine projects with a total outlay of over Rs 14,084 crore, where the banks have disbursed Rs 1,484 crore.

“There are no issues related to nine projects that are pending. All of them have been resolved. Only action taken reports are required to be sent from time to time to be placed before the CCEA by concerned ministries,” he said.

Another nine projects reviewed by the CCI involved an investment of over Rs 85,000 crore.

The Finance Minister further said that banks have already disbursed as much as Rs 30,000 crore for the power sector projects and with clearances in place they would provide more funds for these projects.

On land acquisition problems, one of the major causes of delays in projects, Chidambaram said, “After the Food Bill, the one listed is Land Bill. Now that the (Food) Bill is passed, the next item on the list will be Land Acquisition Bill.”

 

Top Stories

Priyanka-Chopra-Will-Play-Lead-Role-In-An-American-TV-Show-3

Priyanka Chopra plays FBI specialists in “Quantico”

March-03-2015
Bollywood is not by any means the only one to be honored with the gifts of Priyanka Chopra. It is remarkable that
rupees

Indian rupee opens lower at 61.89 every dollar

March-03-2015
The Indian rupee opened imperceptibly lower at 61.89 every dollar on Monday versus 61.83 Friday. The euro exchanges around crisp one-month lows
budget2015

Sorry Mr Jaitley, your Budget 2015 has left the IT division hanging

March-03-2015
In the midst of exclusive requirements from the IT business, Finance pastor Arun Jaitley introduced his first full-year Union Budget 2015 in
Mercedes-Benz-B-Class-Top-Car-In-India-With-Moonroof

Mercedes-Benz will dispatch the B-Class facelift on March 11

March-03-2015
Mumbai : The multinational division of the German producer of Luxury vehicles Mercedes-Benz will be propelling the B-Class facelift on March 11,
virat-kohli-fb-780

India in World Cup: Time to raise the stakes!

March-03-2015
India have begun their ICC World Cup 2015 crusade on a high winning all there three matches in this way. The Men
collage_1_650_030315112345

AAP emergency: Arvind Kejriwal ‘profoundly hurt’, Khetan assaults father-child Prashant couple

March-03-2015
Aam Aadmi Party convener and Delhi Chief Minister Arvind Kejriwal on Tuesday at last ended his hush on the enormous thundering inside