Minister for Finance , Sh P Chidambaram in his Budget speech in Lok Sabha today said that revival of investment in the industrial sector, especially manufacturing, is a key challenge. Many projects are stalled because they are unable to clear regulatory hurdles. The Cabinet Committee on Investment (CCI) has been set up to monitor investment proposals as well as projects under implementation, including stalled projects, and guided decision-making in order to remove bottlenecks and quicken the pace of implementation. Two meetings of the CCI have been held already and decisions were taken in respect of a number of oil and gas, power, and coal projects. CCI will take up some more projects shortly.

 DSM/UM/R

(Release ID :92767)

Fast-tracking high-end projects: a committee will monitor proposals and remove regulatory bottlenecks to accelerate implementation. A high-level inter-governmental mechanism has been established to accelerate industrial and infrastructure projects by monitoring proposals and projects under implementation and by addressing regulatory impediments that stall progress; it has convened meetings and taken decisions on major energy and infrastructure projects and will continue reviewing additional stalled or slow-moving investments to expedite execution.