The Government of India has set- up a Project Monitoring-Invest India Cell (PMIC), earlier known as Project Monitoring Group, for resolving of issues and fast tracking the setting-up and expeditious commissioning of large Public, Private and Public-Private Partnership (PPP) Projects. However, there is no prescribed criterion for classifying a project as a Stalled Project. The primary focus of PMIC is on expediting the approvals for clearances from Central and State Authorities for setting-up of projects. PMIC does not distinguish between a ‘stalled’ or an ‘under implementation’ Project in accepting a project for resolution of its issues.
PMIC has been monitoring the resolution of a variety of issues brought before it by the Central Ministries/State Governments and project proponents. So far, out of 1,038 projects considered by PMIC, issues in 615 projects (anticipated investments Rs.~22,34,805 Cr) have been resolved and issue of 125 projects (anticipated investment Rs.~8,19,780 Cr) required no further action/intervention from PMIC. Out of these 740 Projects, 340 Projects have been partly/fully commissioned with actual flow of investments amounting to Rs.11.66 lakh crore (approx.) till 08.02.2019, while 238 projects worth Rs.8.5 lakh crore are in the pipeline. As on 12.06.2019, 298 projects (anticipated investment ~10,98,710 Cr.) are under consideration of PMIC.
The Projects considered by PMIC mainly pertains to the following sectors, as detailed in the Statement attached as Annexure ‘A’: –
(i) National Highways and Railways (iv) Chemicals and Fertilizers
(ii) Civil Aviation and Shipping (v) Coal, Power and Mines
(iii) Petroleum and Natural Gas (vi) Cement, Construction and Steel
A Statement indicating details of Gross Fixed Capital Formation (GFCF) in the last three years is at Annexure ‘B’, which shows an increasing trend of investment.
A Statement indicating details of projects in which issues reported to PMIC have been resolved in key infrastructure sectors and those which are still under consideration of PMIC is at Annexure ‘A’.
This was stated by the Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman in a written reply to a question in Lok Sabha