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Prime Minister meets infrastructure secretaries to set target for current fiscal

28 Jul 2014 Evaluate

In order to boost the infrastructure development in the country, Prime Minister Narendra Modi held a meeting with secretaries of nine core infrastructure ministries to set targets for FY15 and identify key projects in sectors like road, power and railways. The eight industries - crude oil, petroleum refinery products, natural gas, fertilisers, coal, electricity, cement and finished steel - have a weight of 37.9% in the overall Index of Industrial Production (IIP). Besides, top officials from Environment and Forest Ministry and Rural Development Ministry also attended the meeting.

It is reported that the Planning Commission had made a detailed presentation on the performance of core infrastructure in the previous fiscal year and deliberated on the targets suggested by the ministries for the current fiscal. Planning comminsion informed PM that Indian railways laid 450 kms of new track in 2013-14, which was short of the targeted 500 km. Commission has proposed laying of 300 km new railway track during for the current financial year. Plan panel also proposed to set a target of 700 km for doubling of rail tracks in the current fiscal against 900 km targeted in 2013-14. 

For the civil aviation sector, the Commission has proposed to lower the investment target to Rs 934 crore in the current fiscal from Rs 1,008 crore in previous fiscal which recorded investment realisation at about 55 per cent of the target. Regarding the road sector, the commission reported that 189 highway projects involving a cost of Rs 1,80,000 crore are stuck due to problems of land acquisition, delays in forest and environment clearances, non-transfer of defence land and hurdles in rail over bridges, among other things. Further the issue of coal shortage in the country was also discussed in the meeting.

The infrastructure development is a most critical prerequisite to boost the economic growth. The government has been taking various measures to boost the infrastructure sector’s growth.  It has set the $1-trillion investment target for the 12th Five Year Plan (2012-17) to overhaul its infrastructure sector such as ports, airports and highways to boost growth. Further, in order to expedite the implementation of infra projects, the government has set up Cabinet Committee on Investment (CCI).

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