PM's PMG clear projects worth Rs 5 lakh crore

Project Monitoring Group has cleared 147 projects, including environment and forest clearances

Set up to track stalled mega investment schemes, the Prime Minister's Project Monitoring Group (PMG) has cleared 147 projects, entailing an investment of around Rs 5 lakh crore.

"PMG has facilitated clearance to 147 projects worth about Rs 5 lakh crore in which more than 200 issues, including environment and forest clearances, were involved," said PMG Chairman Anil Swarup while addressing the media here today at a CII conference on reviving investments.

In 100 out of 147 projects facilitated by the PMG, Rs 3.1 lakh crore investments have been made as per the industry figures, Swarup said, adding that these entailed a total investment of Rs 3.8 lakh crore.

A large number of projects related to coal, and the monitoring of the schemes has ensured that fuel supply agreements have been signed between power firms and coal companies for about 70,000 MW, out of the targetted 78,000 MW.

He asserted that monitoring of the schemes was creating a pressure on the ministries which were expediting the process and was hopeful to roll out digitisation at least in the Ministry of Environment and Forest (MoEF) by July.

"First we have taken digitisation process with MoEF and are discussing with other ministries including Mines. Hopefully, we will be rolling out by July 1. We are not changing any process so we are not going to attract Election Commission's attention. We are tracking the files," he said.

PMG's vision is to make every information available on the web, thereby creating transparency through IT-related applications, he said, adding that "specific details, however, would be available to project proponents only as I don't want companies to poach into other's areas."

Asked whether the process would be impacted due to the upcoming Lok Sabha elections, Swarup said, "Election Commission basically prevents taking policy decisions. If a routine clearance is to be given which is stuck somewhere, I don't think anyone is going to object to it. We only ensure timely decisions are taken and it will continue."

He added that 13 states have decided to set up similar PMGs. "We have told states that we are ready to share the portal with them and they can start monitoring the projects below Rs 1,000 crore. This is irrespective of political colour. It is apolitical," he stressed.

On projects that were rejected, he said, a number of them were rejected, including two which were asking for domestic gas as there was no gas availability.

PMG has identified over 435 stalled projects worth around Rs 20 lakh crore, pending for years.

The PMG was set up in June last year to facilitate and fast-track projects by resolving specific issues.