Swarup panel to revive stalled projects: FM

Finance minister P Chidambaram on Thursday announced that a panel headed by Anil Swarup from the Cabinet Secretariat will identify and help restart 215 major projects that have been stalled for various reasons.

… the Prime Minister today approved appointment of Anil Swarup … as the head of a panel to identify and help restart stalled projects. Swarup will take over in a couple of days. The preparatory work is being done by various departments,PMO and Ficci and all the material will be placed before this committee headed by Swarup, Chidambaram said at the annual general meeting of the Indian Banks Association. 215 projects are being tracked where an estimated Rs 7 lakh crore investment is being made. Banks have disbursed Rs 53,000 crore in these projects.

At the next level,there are 126 projects with a capital requirement of Rs 3.5 lakh crore. Together,341 projects with an investment plan of Rs 10.5 lakh crore are stalled for various reasons. The first task is to kickstart these projects8230; revive the animal spirit of entrepreneur8230;, he said.