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The Union Cabinet today gave its approval to the following proposals :-
a) Stipulation of a time limit of 24 weeks for appraisal / approval of Power and Coal projects.
The Time-bound appraisal / approval of projects will expedite implementation of Power and Coal projects.
b) Special dispensation envisaging appraisal of selected Power Projects (45 Hydel Generation + 29 Transmission) by a Committee chaired by Secretary (Power).
The Time-bound appraisal / approval of projects will expedite implementation of Power projects.
c) E&F clearance will be mandatory prior to Cabinet Committee on Economic Affairs (CCEA) approval. In case of cost escalation after / due to E&F clearance is more than 10% of overall cost, proposal will be referred back to Public Investment Board (PIB).
This decision will ensure that project costs placed before CCEA for approval are realistic and up-to-date.
d) Dispensing with “in principle” approval from Planning Commission and pre-PIB stage for all Power and Coal Projects.
Appraisal / approval of projects will be expedited.
YSR/DS/LV
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