Business & Economy

Steering group on infrastructure investment to meet on July 19

NetIndian News Network

New Delhi, July 15, 2013

The first meeting of the Steering Group set up by Prime Minister Manmohan Singh last month as part of efforts to ramp up investment in infrastructure project and revive investor sentiment will be held here on July 19.
An official press release said that the meeting would be chaired by the Principal Secretary to the Prime Minister.
The Secretaries of the Ministries/Departments of Finance, Planning Commission, Economic Affairs, Road, Transport & Highways, Shipping, Civil Aviation, Power and Chairman Railway Board have been invited to monitor the preparation and award of various projects with an estimated cost of Rs 1 lakh crore.
At a meeting on June 28 to finalize infrastructure targets for 2013-14, Dr Singh had set a target of rolling out public-private partnership (PPP) projects of at least Rs 1 lakh crore in the next six months.
He had also announced the setting up of the steering group to monitor the award and implementation of projects from a list of projects, with a total investment of Rs 115,000 crore.
The projects to be discussed at the meeting include: Mumbai Elevated Rail Corridor Project, Two Locomotive Projects, Accelerating Eastern Dedicated Freight Corridor, One Expressway Project, One Port, Two Airports, and Power and Transmission Projects.
The release said that the Prime Minister had also approved the constitution of an Inter-Ministerial Group, consisting of Chairman, Railway Board, Finance Secretary and Secretary, Planning Commission to clear backlog of sanctioned projects in the Railways.
The group will come up with a creative financing-cum-implementation mechanism for enhancing investment and for clearing backlog of projects of an estimated Rs 2 lakh crore in a prioritized manner, the release added.
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