Thursday, July 12, 2012

Investment tracking system


Prime Minister sets up an Investment Tracking System
In order to address the issue of major investment projects being delayed for a variety of reasons, the Prime Minister has approved the setting up of an Investment Tracking System to ensure speedy implementation of such projects.
2. In pursuance of this, an Investment Tracking System has been put in place whereby –

(a)
National Manufacturing Competitiveness Council shall track all Public Sector projects with an investment of ` 1000 crore and above. The National Manufacturing Competitiveness Council shall submit a quarterly statement of all projects monitored and any issues identified that need resolution, either systemically or individually. 

(b) The
Department of Financial Services shall monitor projects with an investment of ` 1000 crore and above in the private sector. The Department would use data available with the banking sector for this purpose. The Department shall submit a quarterly statement of all projects monitored and issues identified that need resolution, either systemically or individually. 

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