A Special Cell will be created in the Cabinet Secretariat to keep track of stalled investment projects, both in the public and private sectors. The Cell will function as a Project Monitoring Group for all large projects and proactively pursue them for timely commissioning. It will also help remove bottlenecks in implementation on a fast track basis.

An official release issued in New Delhi today the decision was taken at a meeting chaired by Prime Minister Dr Manmohan Singh early this month. It said the Ministries have been tasked with the identification of the priority projects under their jurisdiction.

The Prime Minister has also directed the Cabinet Secretariat to hold a meeting with the Chief Secretaries of States to take state governments on board in this new institutional mechanism.

AIR Correspondent reports that the Finance Ministry has compiled a list of 215 such projects where the banks have already funded more than seven lakh crore rupees. FICCI has also submitted a list of 52 projects in the private sector, which are delayed due to various bottlenecks.