AP launches investment tracking mechanism to speed-up Project Clearances

Hyderabad, July 25 : Launch of investment tracking mechanism at the state level is the need of the hour. This initiative is the most promising initiative that would steer states’ image into a promising state in all aspects, commented by J S V Prasad, Principal Secretary, Industries Department (Govt of Andhra Pradesh) while inaugurating the FAPCCI-FICCI’s interactive meeting and the state level launch of the web portal to track investment mechanism in AP.

Prasad also congratulated the cabinet secretariat for its initiative to launch portals at all States in the country. The event was organized jointly by FAPCCI and FICCI.

The Project Monitoring Group (PMG) at the Centre has been facilitating clearances for projects which are struck for want of various clearances through its portal. This is meant for projects with investment of Rs 1000 crore and above. The similar mechanism is now being adopted at the State level to track projects with investment between Rs 100 crores – Rs 1000 crores.

In his key note address, Anil Swarup, Additional Secretary, Cabinet Secretariat and Head of the Project Monitoring Group in the Cabinet Secretariat, Government of India said that “this process began in last year June and more than 150 projects have been cleared till now.”

He cited in his address that there is great need to set time frames to obtain clearances and to hold regular monitoring committee meetings at the state level in association with the state nodal agency to speed up the processes of investment proposals. He also mentioned that under this new mechanism, private entrepreneurs can REGISTER to get the login credentials. Thereafter, project details can be submitted along with the bottlenecks / issues to the sponsoring ministry or department. Sponsoring ministry will review the project details submitted by private entrepreneurs and recommend the project to the CCI Cell at the Cabinet Secretariat.

Prasad, in his address further pointed out that the investment tracking mechanism will provide timely transparent system to the stake holders.

Dr. Shubhag Chand, HOD, Cabinet Secretariat Informatics Division (CSID), Govt. of India gave detailed presentation on “CCI Project Management System and State Level Investment Tracking Mechanism.”

Dr. D.Sambasiva Rao, Secretary to Government (Infrastructure & Investment) expressed happiness on the launch of the portal and elucidated that such initiatives brings less burden or at times zero burden on investors to start the business in no-time. Therefore, it gives a positive signal to international community on doing business with India, more so with Andhra Pradesh.

FAPCCI President Shiv Kumar Rungta welcomed the initiative and requested the business / investors community to take full advantage of the portal which would act as the most significant factor for the development and model for good governance.

J A Chowdary, co-chair of FICCI AP & Telangana State Council in his special address said that, “FICCI is pleased to see the setting up of this transparent web based mechanism in the State which will speed up the clearances and ensure timely implementation”. This will also boost the prospective investors’ confidence to enhance the percentage of investments in the state in days to come, he said.  INN