Prime Minister Manmohan Singh on Saturday constituted a high-level Cabinet Committee on Infrastructure (CCI) that he would himself head to closely monitor key projects for spurring economic growth. Since (Attaching top most priority to core sector).
The constitution of the Committee comes in the wake of government's focus on infrastructure, an area where Finance Minister Pranab Mukherjee has said India Infrastructure Finance Company Ltd could extend funds up to Rs one lakh crore.
"The Committee will fast track the implementation of the infrastructure sector projects and monitor the performance keeping in mind the mandate of the Government," PMO said in a statement.
The Committee will consider and take decisions in respect of all infrastructure related proposals costing over Rs 150 crore -- specifically those concerning energy, railways, roads and national highways, ports, airports, telecommunications, information technology, irrigation, housing and urban development with particular emphasis on rural housing and urban slum clearance.
The Committee will consider and decide measures such as fiscal, financial, institutional and legal required to enhance investment in the sector, including grant of requisite approvals to facilitate private sector investment in specific projects and laying down annual parameters and targets for performance of all infrastructure sectors and review the progress of the projects.
To ensure that infrastructure projects do not face financing difficulties arising from the current downturn, Mukherjee in his budget speech had said that the IIFCL would refinance 60 per cent of commercial bank loans for PPP projects in critical sector over the next 15 to 18 months.
Mukherjee had said that IIFCL and banks were now in a position to support projects involving a total investment of Rs one lakh crore in infrastructure.
Besides the Prime Minister, the Committee would have Union Ministers Pranab Mukherjee, Sharad Pawar, Mamata Banerjee, Sushil Kumar Shinde, Farooq Abdullah, Jaipal Reddy, Kamal Nath, A Raja, C P Joshi, Kumari Selja, G K Vasan and Pawan Kumar Bansal as members.
Planning Commission Deputy Chairman Montek Singh Ahluwalia and Union Ministers of State Prithviraj Chavan and Praful Patel will be special invitees to the committee.
source: NDTVPROFIT
The constitution of the Committee comes in the wake of government's focus on infrastructure, an area where Finance Minister Pranab Mukherjee has said India Infrastructure Finance Company Ltd could extend funds up to Rs one lakh crore.
"The Committee will fast track the implementation of the infrastructure sector projects and monitor the performance keeping in mind the mandate of the Government," PMO said in a statement.
The Committee will consider and take decisions in respect of all infrastructure related proposals costing over Rs 150 crore -- specifically those concerning energy, railways, roads and national highways, ports, airports, telecommunications, information technology, irrigation, housing and urban development with particular emphasis on rural housing and urban slum clearance.
The Committee will consider and decide measures such as fiscal, financial, institutional and legal required to enhance investment in the sector, including grant of requisite approvals to facilitate private sector investment in specific projects and laying down annual parameters and targets for performance of all infrastructure sectors and review the progress of the projects.
To ensure that infrastructure projects do not face financing difficulties arising from the current downturn, Mukherjee in his budget speech had said that the IIFCL would refinance 60 per cent of commercial bank loans for PPP projects in critical sector over the next 15 to 18 months.
Mukherjee had said that IIFCL and banks were now in a position to support projects involving a total investment of Rs one lakh crore in infrastructure.
Besides the Prime Minister, the Committee would have Union Ministers Pranab Mukherjee, Sharad Pawar, Mamata Banerjee, Sushil Kumar Shinde, Farooq Abdullah, Jaipal Reddy, Kamal Nath, A Raja, C P Joshi, Kumari Selja, G K Vasan and Pawan Kumar Bansal as members.
Planning Commission Deputy Chairman Montek Singh Ahluwalia and Union Ministers of State Prithviraj Chavan and Praful Patel will be special invitees to the committee.
source: NDTVPROFIT
0 comments:
Post a Comment