New Delhi:
In an attempt to revive the investment climate in India, the Prime Minister is meeting six ministers who handle infrastructure related portfolios like power, coal, aviation, shipping and road transport to review key infrastructure projects. A bullet train between the key trading hubs of Ahmedabad and Mumbai is likely to be cleared; three international airports and 12 domestic airports will also be green-lit, say sources.
The slowdown in growth - it fell to a nine-year low of 6.5 per cent in 2011-12 - and the alleged policy paralysis of the government was criticized at a meeting earlier this week of the Congress' highest decision-making body, the Congress Working Committee (CWC).
The PM's meeting will be attended by six senior minister and Montek Singh Ahluwalia, the deputy Chairman of the Planning Commission.
A detailed presentation will be made on the infrastructure needed for industry, and new targets are likely to be set.
Currently, projects worth Rs. 1.46 lakh crore are awaiting clearances. According to Finance Ministry documents, these include power and steel projects and highways.
The government has maintained that $ one trillion would be required in the infrastructure sector during the 12th Plan (2012-17) of which it expects 50 per cent from the private sector.
In an attempt to remove bottlenecks, the Prime Minister recently set up an Investment Tracking System to monitor the status of projects of Rs. 1,000 crore and above.