The Project Monitoring Group (PMG), which is responsible for facilitating the resolution of issues in infrastructure projects with investments above Rs 500 crore, has reviewed 374 high impact infrastructure projects worth Rs 17 lakh crore in the current financial year, the Union Ministry of Commerce & Industry said on Wednesday, March 30, 2022.
At present, PMG is monitoring 1,362 under implementation projects with a total estimated investment of about Rs 47.55 lakh crore, spread over key sectors like roads, transport and highways, railways, petroleum and natural gas, new and renewable energy, etc.
“Under the guidance of senior officers from DPIIT, in FY 2021-22, 787 new projects with an investment value of Rs 19.6 lakh crore have been brought on PMG for monitoring. And 44 projects with an investment value of INR 1.25 lakh crore have been commissioned,” the ministry said in a statement.
The Project Monitoring Group, presently located at Invest India, Ministry of Commerce and Industry, is a unique institutional mechanism to facilitate the resolution of issues in infrastructure projects with investments upward of Rs 500 crore primarily by way of conducting regular review meetings with States and Central Ministries.
With the deployment of milestone-based monitoring of projects on the PMG portal in November 2021, project reviews have become more holistic, combining both issue resolution and milestone-based monitoring to anticipate delays in projects, mitigate time and cost overruns and identify agencies/authorities responsible for delays.
PMG has been conducting regular review meetings between project supporters, State Governments and Central Ministries to expedite project implementation through the speedy resolution of issues.
Since April 2021, PMG has conducted 30 review meetings with almost all State Governments and Central Ministries. During these meetings, 374 projects worth about Rs.17 lakh crore have been reviewed with the co-operation and active participation of State Governments and Ministry officials. As a result of regular review, 568 issues have been resolved in 248 projects worth Rs.12.20 lakh crore.
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