Indian economy likely to recover in the next 3 to 6 months as a large number of the 215 stalled projects are expected to start rolling, Financial Services Secretary, Rajiv Takru said. While addressing an event, he said that ‘given the initiatives taken up by the Government in the recent past and the decisions to be taken in the next 1-2 months, the domestic economy will mark a significant improvement in performance in the next 3-6 months’.
Rajiv Takru said that the Government had identified 215 infrastructure projects worth Rs 7 lakh crore which had been stalled at various stages of implementation owing to the various hurdles including administrative delays and environment clearances among others. Also, another 126 projects worth Rs 3.5 lakh crore that have been approved are yet to take off. By adding further, he said that the Government has set up a special group headed by an officer in the cabinet secretariat to look into each of the stalled projects. Further, many supply issues relating to coal and gas are being resolved.
The Government has recognized the development of infrastructure as a most critical condition to boost economic growth. Thereby, for the 12th Five Year Plan (2012-17), the Government has set the $1-trillion investment target for the infrastructure sector.
