Projects worth almost ₹11 lakh crore remain ‘stalled’ or have issues under consideration, according to data provided by the Finance Ministry, with the Railways, roads, and power sectors accounting for more than half of these stalled projects.
According to an answer provided to the Lok Sabha on Monday by the Finance Ministry, the government’s Project Monitoring Invest India Cell (PMIC) has resolved the issues surrounding 740 projects worth ₹30.5 lakh crore. However, 298 projects worth ₹10.98 lakh crore still have problems that are yet to be resolved.
“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,” the reply said. “However, there is no prescribed criterion for classifying a project as a stalled project,” it added.
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According to the data, the projects under the Ministry of Railways seem to be the most problematic. While the PMIC has resolved all issues surrounding 42 projects in the sector worth ₹77,555 crore, there are still 115 projects worth ₹4 lakh crore “in which issues are still under consideration”.
On the other hand, projects under the Ministry of Power have seen the highest success rate of issues being resolved. While 36 projects worth ₹2.05 lakh crore are still under consideration, the PMIC has resolved issues with 246 projects worth ₹13.2 lakh crore. Similarly, the PMIC has resolved issues around 201 road transport projects worth ₹2.21 lakh crore, with 89 projects worth ₹1.83 lakh crore under consideration.