New Delhi [India], March 30 (ANI): Project Monitoring Group (PMG), which is responsible to facilitate the resolution of issues in infrastructure projects with investments upward of Rs 500 crore, has reviewed 374 high impact infrastructure projects worth Rs 17 lakh crore in the current financial year, the Union Ministry of Commerce & Industry said on Wednesday.
At present, the PMG is monitoring 1,362 under implementation projects with a total anticipated investment of approximately Rs 47.55 lakh crore spanning across key sectors like Road, Transport and Highways, Railways, Petroleum and Natural Gas, New and Renewable Energy, etc.
“Under the guidance of senior officers from DPIIT, in FY 2021-22, 787 new projects with an investment value of Rs 19.6 lakh crore have been brought on PMG for monitoring. And 44 projects with an investment value of INR 1.25 lakh crore have been commissioned,” the ministry said in a statement.
Project Monitoring Group, which is currently housed in Invest India, Ministry of Commerce and Industry, is a unique institutional mechanism to facilitate the resolution of issues in infrastructure projects with investments upward of Rs 500 crore primarily by way of conducting regular review meetings with States and Central Ministries.
With the deployment of milestone-based monitoring of projects on the PMG portal in November 2021, project reviews have become more holistic, combining both issue resolution and milestone-based monitoring to anticipate delays in projects, mitigating time and cost overruns and identifying agencies/authorities responsible for delays.
PMG has been convening regular review meetings between project proponents, State Governments and Union Ministries to accelerate project implementation through expeditious resolution of issues.
Since April 2021, PMG has organized 30 review meetings with nearly all State Governments and Central Ministries. With the co-operation and active participation of the State Governments and Ministry Officials, 374 projects with a value of approximately Rs 17 lakh crore have been reviewed during these meetings. As a result of regular reviews, 568 issues in 248 projects worth Rs 12.20 lakh crore have been resolved. (ANI)
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