NEW DELHI: Signalling an end to a prolonged policy paralysis that became the hallmark of the UPA II towards its tail end, the NDA government is creating a shelf of 500 ready-to-bid infrastructure projects worth Rs 3 lakh crore to propel growth in the sector. This is in addition to rolling out of projects worth Rs 1.8 lakh crore of Rs 2.8 lakh crore stuck projects.
“In our shelf, we are going to have 500 projects worth more than Rs 3 lakh crore ready with processes like land acquisition, forest clearance and other clearances,” Road Transport and Highways Minister Nitin Gadkari told an infrastructure summit, organised by the Indo American Chamber of Commerce (IACC) here.
The minister said that a separate section has been created in his ministry to prepare detailed project reports (DPR) to keep a track on the progress of all on-going projects.
Blaming the previous UPA regime for poor development of the sector, Gadkari said the sector was hit hard during the last decade owing to faulty policies. “But corrective measures are on, resulting in launch of Rs 1.8 lakh crore of projects of Rs 2.8 lakh crore stuck due to regulatory hurdles and delays in land acquisition,” he added.
Of the remaining projects worth Rs 1 lakh crore, the contractors wanted golden handshake for projects worth Rs 50,000 crore, he said.
“Not only a mechanism to solve all discrepancies is in place but a justified model concession agreement will be in place soon,” he said.