Problems of many projects to be resolved in 5-6 weeks: Montek
Planning Commission Deputy Chairman Montek Singh Ahluwalia Monday expressed the hope that problems related to mega projects - stuck due to regulatory clearances - will be resolved within 5-6 weeks.
New Delhi: Planning Commission Deputy Chairman Montek Singh Ahluwalia Monday expressed the hope that problems related to mega projects - stuck due to regulatory clearances - will be resolved within 5-6 weeks.
The problem is that various projects are stuck because a number of regulatory clearances are now subject to "so much public scrutiny and therefore there is a hindrance" on part of the bureaucratic system to respond to many of them, he said.
The only way to solve such problems is to address them at political levels, he said, adding that the Cabinet Committee on Investment (CCI) has dealt with environmental related issues and several projects have moved forward.
"Several projects have moved forward, and my hope is that in the next 5-6 weeks you will be able to say there are a large number of projects where problems have been resolved," Ahulwalia said at the NDTV Profit award function.
Over 340 projects, including 125 new projects, are held up for some reason or the other and expressed his commitment to clear bottlenecks hampering their implementation.
Earlier in the day, after a meeting with the industry in Mumbai, Finance Minister P Chidambaram told reports: "The agenda was to identify the projects that have been stalled. We've identified 215 projects which for one reason or another are stalled.
"We've identified another 126 projects which are new projects, to which banks have sanctioned loans but which have not taken off."
Worried over the growing number of stalled projects, the government had set up the high-powered CCI, under Prime Minister Manmohan Singh, to clear the bottlenecks holding back mega projects.
This month CCI is expected to ease stringent conditions imposed by Defence Ministry on 31 other oil and gas blocks, Chidambaram had said last week.
Meanwhile, Ahluwalia also exuded confidence that fuel supply issues faced by power projects too would be resolved in the next few weeks.