Modi Government is committed to the growth of the people of the country. Modi Government has shown its intention to make India a Developed Nation. The proposition of stalled projects in total monitored projects fell to a five-year low of 30.7 percent from 44.5 percent in May 2012.
Projects in road, railways and petroleum sectors have shown greater momentum.
As per the latest data from the Ministry of Statistics and Programme Implementation (MOSPI), Government has not only the increased the number of projects, but the Government’s efficiency in project execution has also improved significantly.
The amount of cost overrun for monitored projects as a percentage of original estimation has fallen down to 12.5 percent from the highest level of 19.5 percent in May 2012. The proportion of number of projects with cost overrun in total monitored projects has dropped gradually over the years to 22.4 per cent from 34.4 percent in May 2013.
Efficiency has been improved instead the growth of number of monitored projects by nearly 200 percent. Monitored projects are 1,076 as on May 2016 as compared to 564 in May 2012. The biggest jump was in road transport projects to 412 in May 2016, from 132 in May 2015. The cumulative cost of these projects formed 21 percent of total cost of all the projects under monitoring as compared with just 9 percent in May 2015.
Sanjay Mitra, Secretary of road transport and highways said Government is planning to restart stalled projects. We have increased the threshold for project approval. For stalled projects, in 40 per cent cases the issue is land acquisition, 40 per cent are due to issues like financing, poor mobilisation, other problems, 20 per cent relate to clearances for forest, wild life and other things. So land acquisition is only a part of the issue and we have taken a large number of steps to ensure that land acquisition is no longer a hurdle, he added.