Govt. clears Rs. 3.85 lakh-cr infra projects

    infra project
    The government has cleared 403 infra projects entailing a whopping investment of Rs. 3,85,000 crore ever since it came to power at the Centre, Transport Minister, Nitian Gadkari said, elaborating that these projects were stuck due to several reasons, such as, banks and lenders, as they were quite worried that the projects may turn NPAs. The government swung into action and about 21 cabinet decisions were taken to help bringing those projects on track, as of now, only about half a dozen projects remained with their issues being sorted out on war footing in a transparent, positive and corruption-free manner. Among others, the government came out with Hybrid Annuity Model, wherein the appointment letter is not given to the developer unless 80% land is acquired and currently projects of over Rs. 80,000 crore are being developed under this model. Initially, when there was no response for 17 Build, Operate, and Transfer (BOT) projects, the government awarded Rs. 60,000 crore worth projects under the Engineering Procurement and Construction (EPC) model, but now the contractors has also started taking interest in the BOT mode road projects, he added.
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