PMG cleared projects to take 3-4 mnths for final clearance

Aastha  Maheswari and Rituparna Bhuyan

The PM's Project Monitoring Group which  was set up this year to fast-track stalled mega-investment projects,  has cleared more than a 100 projects till date.The PMG has also sorted out issues with regards to multiple stalled projects over the past 6 months. Some of these include, phase 3 of Adani's 1800 MW Mundra project , Lanco's 7700 MW plant, DB Power's 3440 cr rupee project,  the 12000 cr rupee Phase II development of GVK's Mumbai Airport  and Hindalco's 7000 cr rupees Utkal Alumina refinery among others
But now the ball lies in the Finance Ministry's court. CNBC TV 18 Learns that with banks cautious on financing stalled projects till now, North Block needs to step in and help arrange financing for Projects with investments more than 1000 cr rupees .And without this move, none of the above projects can get a final go.We also understand that it's not just about tie-up financing, the
ground level issues in states also need to be sorted out, &here the PMG is working to solve roadblocks with the state govts
Anil Swarup, head of Project Monitoring grp in an interview to CNBC TV 18 says that they are in discussions with state government, where around 45% of the issue lies.PMG team is in constant touch with the states to resolve issues with regards to the remaining 250 projects which have still not got clearance.The PMG team has already visited 15 states to resolve state related problems which are primarily related to land acquistion, forest clearance and law and order.As for a timeline to when this projects will get operational..the govt in the near term is hoping to see at least 40 thousand crores worth of projects get to the implementation stage by Q4 of this fiscal itself.