Economy

Officials across ministries are working with investors to facilitate 863 projects with an investment of $121 billion across sectors, including chemicals and petrochemicals, steel and heavy industry

·        Project Development Cells will be dedicated units in select ministries whose primary task will be to develop investible industrial project proposals.

·        The cell will be headed by a joint secretary level officer in the respective ministry.

·         Project Development Cells will be set up in 22 ministries which deal with industrial sectors.

·        These include heavy industries, textiles, chemicals & fertilisers, electronics, pharmaceuticals, commerce & industry, food processing, petroleum & natural gas, defence, steel, coal, housing & urban affairs, transport & highways, shipping, civil aviation, renewable energy, power, railways, health, agriculture, animal husbandry.

·        The Cell are tasked with conceptualising, strategising, and implementing investible projects.

·        The cell can produce detailed project reports, make sure that all permissions are in place, and land is accessible for allotment for their respective projects for investments by firms.

·        Once the project proposals are prepared, theyll be presented to the authorized  group of Secretaries. additionally, these cells will identify policy problems that require to be resolved and place them before the authorized  group of Secretaries.

·        Moreover, the Cells will interact with state governments and coordinate with them whereas making ready project proposals.

·        authorised group Of Secretaries The Empowered cluster Of Secretaries (EGoS) may be a panel of six senior central government officials from the economic ministries.

·        This group are headed by cupboard secretary Rajiv Gauba, who is that the senior most serving bureaucrat in india.

·        Other members of this panel are Amitabh kant, chief executive officer of NITI Ayog, and Secretaries of Department for Promotion of business and Internal Trade (GuruprasadMohapatra), Department of Commerce (AnupWadhawan), Department of Economic Affairs (Tarun Bajaj), and Department of Revenue (Ajay Bhushan Pandey).

·        Moreover, the secretary of the respective line ministry also will be co-opted once problems area unit mentioned by this panel.

·        The secretary of DPIIT are going to be the convener of EGoS.

·        The primary task of the authorized  group Of Secretaries (EGoS) is to improve investment environment within the country for foreign and domestic investors.

·        The EGoS also will appendage investors and promote JVs with Indian firms.

·        The EGoS can discuss and recommend investment policies to government departments and make sure that they get implemented.

·        It also will identify sectors for import substitution.

·        It can suggest FDI reforms to attract green filed foreign investments.

·        The policy recommendation of the EGoS will be necessary for central government departments.

·        FDI connected clearances got by Foreign Investment Promotion Board.

·        But it had been wound down in 2017 and presently, the line ministries are tasked with approving FDI connected proposals.

·        Any inter-ministerial issue that comes up during promoting investments are referred to the EGoS.

·        Unlike inter-ministerial economic platforms like GST Council or the SEZ Board of Approval, states don’t have any representation within the EGoS.

·        EGoS wont lead to single window clearance for investors.

·        EGoS can have a mechanism to interact with stakeholders from the company world to require feedback.

·        DPIIT has long been performing on a one-stop digital platform for all state and central government clearances.