Finance Ministry seeks cabinet nod for stuck infra projects
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So far, the government has been able to push through around 28 such projects with investment worth 1 lakh crore. “Now, we are aiming at big projects, above Rs 1,000 crore, stuck due to clearances required from more than one ministry,” said the finance ministry official quoted earlier, adding that banks have sanctioned Rs 1.3 lakh crore for these projects. Bankers, however, say revival of stalled projects will not spur credit growth immediately. “You have to understand that once the regulatory clearances come, it will take around six months to have some actual ground level movement,” an executive director with a state-run bank said.