New Delhi, January 18 (IANS). The government’s Project Monitoring Group (PMG) is currently monitoring over 3,000 projects costing more than Rs 78 lakh crore. This information was given by Commerce and Industry Minister Piyush Goyal on Sunday.
He said that till now PMG has resolved the problems in 94 per cent of the cases, which has helped in creating world class infrastructure.
Piyush Goyal wrote on social media platform
He said that PMG has become a strong pillar of India’s project implementation system due to its timely resolution of problems and removal of bottlenecks.
Piyush Goyal said that as India is moving forward on the path of development, the role of PMG has become even more important. Due to this, projects are being completed faster, investor confidence has increased and ease of doing business has increased.
PMG is an institutional mechanism that provides phased monitoring of projects involving investment of Rs 500 crore or more and helps in quickly resolving their problems and regulatory hurdles.
It was set up in 2013 as a special cell in the Cabinet Secretariat and in 2015 it was brought under the administrative control of the Prime Minister’s Office.
Presently PMG Investment India is functioning under the Department of Industry and Internal Trade, Ministry of Commerce. It was brought with the aim of providing all the facilities to the investors at one place, so that it can help in solving the problems of the investment process.
PMG helps medium and large projects involving public, private and public-private partnerships to get approvals, resolve policy issues and remove bottlenecks for faster completion of projects.
According to the government, the projects that the PMG monitors are mostly infrastructure related, although projects in other sectors that meet the prescribed standards are also included in it.
–IANS
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