Rs 40,000 cr projects waiting for clearances

Finance Minister Pranab Mukherjee expressed concern over the delays in the grant of various clearances for large infrastructure projects worth Rs 39,424 crore in the southern region,which he said endangers their viability

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Finance Minister Pranab Mukherjee today expressed concern over the delays in the grant of various clearances for large infrastructure projects worth Rs 39,424 crore in the southern region,which he said endangers their viability.

It has come to my notice that in the southern region,14 projects with a total investment of Rs 39,424 crore are pending for want of various approvals, Mukherjee said at a meeting with chief ministers of South Zone states and UTs and the CEOs of public sector banks and financial institutions here.

He requested the chief ministers to pay personal attention to the issue and review the status of large projects that are pending for want of water,electricity,land and state-level environmental clearances,among other approvals.

The CMDs of PSBs have been advised to approach the state governments for expediting the approvals in projects financed by them, he added.

The risk of the loans sanctioned/disbursed by the banks turning into non-performing assets is also significantly enhanced, he said.

Mukherjee also said headline inflation in the country remains perilously close to double digits but is expected to moderate to 6-7 per cent by March if the present declining trend continues.