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CCI clears Rs 1.83 lakh cr infra projects:FM

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In a bid to ramp up investor sentiments, the government has cleared 36 projects worth Rs 1.83 lakh crore in power and other infrastructure sectors...

New Delhi (PTI): In a bid to ramp up investor sentiments, the government has cleared 36 projects worth Rs 1.83 lakh crore in power and other infrastructure sectors which were stalled on account of regulatory hurdles, Finance Minister P Chidambaram said on Tuesday.

The projects cleared across various infrastructure sectors include 18 in the power sector, entailing Rs 83,773 crore investment besides 18 others in sectors like road, railways, petroleum and natural gas. "Yesterday, CCI met to look at a large number of projects. It cleared projects with a total outlay of Rs 1.83 lakh crore. Message that we are sending, we are very keen to get investment cycle restarted. The cycle has started and we are pushing it further," Chidambaram told reporters.

Chidambaram said apart from power sector projects, where fuel supply agreements (FSAs) will now be signed by September 6 instead of earlier deadline of August 31, there are nine projects with a total outlay of over Rs 14,084 crore, where the banks have disbursed Rs 1,484 crore.

"There are no issues related to nine projects that are pending. All of them have been resolved. Only action taken reports are required to be sent from time to time to be placed before the CCEA by concerned ministries," he said. Another nine projects reviewed by the CCI involved an investment of over Rs 85,000 crore. The Finance Minister further said that banks have already disbursed as much as Rs 30,000 crore for the power sector projects and with clearances in place they would provide more funds for these projects. On land acquisition problems, one of the major causes of delays in projects, Chidambaram said, "After the Food Bill, the one listed is Land Bill. Now that the (Food) Bill is passed, the next item on the list will be Land Acquisition Bill.