The major sectors on which PMIC has so far cleared projects under various sectors including national highways, railways, chemicals and fertilizers, civil aviation, shipping, coal, power, mines, petroleum and natural gas, cement, construction and steel.
Among various sectors, power has got the maximum number of 246 projects that got cleared, that may see about Rs 13.23 trillion worth of investments, followed 201 projects in the road transport and highways sector with an investment of Rs 2.22 trillion. In petroleum sector, 52 projects worth around Rs 3.72 trillion got fresh life under PMIC, while steel too got 42 projects resolved with around Rs 4.45 trillion investment.
In his Independence day speech in 2017, Prime Minister Narendra Modi had highlighted the dismal pace of project implementation in India. He said that “a space vehicle to Mars can be easily executed in nine months, a railway line spanning a mere 70 km lies unfinished for 42 years”. A Project Monitoring Group (PMG) had been set up in 2013 under the Cabinet Secretariat. Since September 2015, it started working under the Prime Minister’s Office and got rechristened into PMIC.
At present, 36 projects worth around Rs 2.06 trillion in power, 89 projects with an investment of Rs 1.83 trillion in road transport and highways, 115 Rail sector projects worth Rs 1 trillion and 15 coal sector projects worth nearly Rs 69,971 crore are under the consideration of PMIC.