Kick-starting trapped projects to bring back economy on track

The government’s retort to kick-start stalled projects will help the economy to start steam-rolling again in the next three-six months, said a top Finance Ministry official.

Online PR News – 08-June-2013 – Navi Mumbai – New Delhi: The government’s retort to kick-start stalled projects will help the economy to start steam-rolling again in the next three-six months, said a top Finance Ministry official.
Rajiv Takru, Financial Services Secretary, expressed that the Government has created a special group, headed by an officer in the Cabinet secretariat, to look into each of the stalled projects which will bring things to get better soon. “In three to six months, the economy will be really running,” he added.
According to him, there are 215 projects with an investment worth Rs 7,00,000 crore has been stalled at various stages of implementation due to several reasons. While another 126 projects, which have been approved, are yet to take off. Investments in these projects are worth Rs 3,50,000 crore.
Takru said that some of these projects will soon see the light of the day. The financial services secretary also said that the bad loans problem for public sector banks will ease soon once these projects start rolling.
EPC World News Bureau

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