The government on Friday said it will set up an inter-ministerial task force to shortlist infrastructure projects for its ambitious target of spending Rs 100 lakh crore in the sector.
Announcing a raft of measures to boost the economy, Finance Minister Nirmala Sitharaman said the issue of delayed payments from central public sector enterprises (CPSEs) to project developers will be monitored by the Department of Expenditure and the entire process will be reviewed by the Cabinet Secretariat.
Regarding contractual disputes by government/CPSEs, the government has decided to pay 75 per cent of the due upfront, provided arbitration is in favour of the claimant.
On the government's plans to invest Rs 100 lakh crore for developing modern infrastructure over five years, Sitharaman said "an inter-ministerial task force is being formed by Department of Economic Affairs to finalise the pipeline of infrastructure projects."
These initiatives, she said, is expected to boost growth and job creation.
These infrastructure projects would be monitored actively to accelerate capital expenditure and investments in the economy.
Disclaimer: No Business Standard Journalist was involved in creation of this content
