Chidambaram assures steps to deal with stalled project at individual level

Most reasons for stalled projects are related to land acquisition,gas or coal linkages,environmental clearances,forest clearances and,in some cases,the inability or the unwillingness of the bank to restructure loans. We have to deal with them project by project, the minister said.

As many as 215 projects with an investment of Rs 7 lakh crore are stalled and banks have already disbursed about Rs 54,000 crore loan towards them. Besides,there are 126 new projects for which the outlay is Rs 3.55 lakh crore and amount sanctioned by banks against these was Rs 43,000 crore. State Bank of India chairman Pratip Chaudhuri said,It is extremely helpful that the finance minister spends so much time with the industrialists trying to understand the problems.

Problems of many projects to be resolved soon

New Delhi: Planning Commission deputy chairman Montek Singh Ahluwalia has expressed the hope that problems related to mega projects stuck due to regulatory clearances will be resolved within 5-6 weeks. The problem is that various projects are stuck because a number of regulatory clearances are now subject to so much public scrutiny and therefore there is a hindrance on part of the bureaucratic system to respond to many of them,he said. The only way to solve such problems is to address them at political levels,he said. PTI