Rs. 3.3 lakh crore invested in 113 projects.

Approval to held-up infrastructure projects has begun to translate into actual investment and raised fresh hopes of reviving industrial demand and employment.

Initial numbers flowing into the cabinet secretariat suggest that nearly 90% of the investment in large projects, which were held up and have now been cleared, have materialized. An analysis of the 113 projects cleared by the Project Monitoring Group (PMG) housed in the cabinet secretariat shows that against investment intention of Rs. 3.7 lakh crore, Rs. 3.3 lakh crore has already been invested.

Last week, Anil Swarup, who heads the PMG, had said that so far, 152 mega projects with investment of close to Rs. 5.3 lakh crore have been cleared. The group, which was set up to work with other ministries to remove last-mile hurdles, has received data for 113 projects, while information on the others is being collected. The PMG has received 438 proposals from projects worth Rs. 1,000 crore or above, involving total investment of close to Rs. 20 lakh crore that have been held up for want of approvals.

TIMES OF INDIA