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New system to ensure speedy implementation of projects


June 26, 2012 - New Delhi

The Government of India has decided to establish an Investment Tracking System to ensure speedy implementation of major investment projects. The projects in the private sector are to be monitored and followed up by the Department of Financial Services, Ministry of Finance.

A format for monitoring the projects in private sector and under Public Private Partnership has been developed and is available at the department's website www.financialservices.gov.in.

The promoters of projects in the private sector and under Public Private Partnership, where the proposed investment is rupees one thousand crores and above are to provide the details of their projects along with the reasons behind delay, if any, to the sites, key.projects@sbicaps.com and fi-dfs@nic.in. This information can also be updated on monthly basis.

The Department is also working separately on developing a web-based system for monitoring of such projects, which will enable the stakeholders in updating the status on a regular basis.

ANI

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