Govt. may act tough on industrial projects remaining non-starters
By The Hindu 28-Aug-2019
According to official sources, a total of 59 projects, with a committed investment of approximately ₹1,53,400 crore, have not taken a tangible shape yet, and 131 units, with investments of about ₹1,48,480 crore, are delayed, or have made very little progress.
MoUs for 1,338 projects were signed in the summits with a total committed investment of ₹12.51 lakh crore.
Besides, the government has decided to cancel the GOs related to the incentives given for units that have not taken off or at least achieved the desired progress after the State Investment Promotion Board (SIPB) cleared their investments between June 2014 and March 2019.
Of the 91 mega projects that the SIPB had sanctioned, only 22, with a total investment of ₹9,681 crore, have actually started operations.
The government’s intention is to cancel the relevant GOs if the projects fail to make rapid progress by resolving issues pertaining to land or grant of various permissions. The remaining projects are in various stages of development, or are delayed or dropped.
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