PROJECT MONITORING GROUP (PMG)
26, Jun 2019
Prelims level : Economics, Infrastructure Mains level : Indian Economy and Issues Relating to Planning, Mobilization of Resources, Growth, Development and Employment
- Projects worth 11 lakh crore remain stalled or have issues under consideration. Railways, roads and Power sector accounting to more than half of these stalled projects.
- Project Monitoring Invest India Cell has resolved the issues surrounding 740 projects worth 30.5 lakh crore. However, 298 projects worth 10.98 lakh crore still have problems that are yet to be resolved.
- What is PMIC?
- The Project Monitoring Group (PMG) was set up in 2013 under Cabinet Secretariat.
- It is an institutional mechanism for resolving a variety of issues including fast tracking the approvals for setting up and expeditious commissioning of large Public, Private and Public–Private Partnership (PPP) Projects.
- PMG is now functioning under Prime Minister’s Office (PMO) since 14.09.2015.
- The projects considered by PMG mainly pertain to sectors such as:
- National Highways and Railways
- Civil Aviation and Shipping
- Petroleum & Natural Gas
- Chemicals & Fertilizers
- Coal, Power and Mines
- Cement, Construction and Steel
- PMG in association with ‘Invest India’, the agency dedicated to promotion of foreign Investment in India, also helps foreign investors intending to make large investments in India by facilitating approvals/clearances and providing them necessary support during implementation of projects
- PMG monitors digitization of Union and State level clearance processes including reengineering of such processes, wherever required for simplification and investment promotion.