The Cabinet Committee on Investment (CCI) has cleared projects worth ₹5.5 lakh crore and a further ₹10 lakh crore is awaiting clearance. Delays in clearing large projects is a hallmark of the current Government, with the Ministry of Environment being the most notable departments for delays.
For a speedy turnaround, projects stranded for clearances will need fast approval. The delays are mostly due to necessary government clearances.
Clearing of projects is likely to see more investments as it will pave way for several investors who are at the moment hesitant to invest in India. Necessary clearances will open investments, which in turn will create more jobs and its attendant benefits. Collectively, these factors will give a leg-up to the economy.