According to Swaroop, so far, there was no structural mechanism through which the industry could discuss and resolve grievances, but now the progress has been made due to government's initiative in the form of CCI.
Also Read: Less gloomy than 3 months ago; hope CCI fructifies:KM Birla
However, CCI has limited roles and its project monitoring group does not take decision. Swaroop also mentioned that CCI is responsible for identifying issues and in case of policy issues, it advises concerned ministry to take it to the Cabinet for a decision.
Below is the verbatim transcript of Anil Swaroop's interview on CNBC-TV18
Q: How much investment has been de-clogged by the CCI and is set to completion in the last three-four months of your existence?
A: This group started functioning from July. In the three months that we worked, we managed to assess and facilitate resolution of issues in 40 projects that entail an investment of Rs 1.5 lakh crore. Consequent to resolutions that are happening, there is some confidence that businesses have on this group.
Today, we are sitting on projects worth Rs 12.5 lakh crore which translates to USD 200 billion, almost one-fifth of India's gross domestic product (GDP) and the projects are coming in thick and fast. This is because the industry also appears to be happy with the arrangement made by the government in terms of attempting to resolve issues.
So far, there was no structural or institutional mechanism through which the industry could sit around a table and resolve their grievances. The progress has been made and it is a small beginning, but Rs 1.5 lakh crore worth of projects is a good number to begin with.
Q: Whole coal supply has improved, the power distribution companies are not able to get the banks and the state government has agreed to the original bailout package, there are some last mile issues as well, is that on your table?
A: As far as the road projects are concerned, our role is limited to the extent of resolving the issues relating to environment and forest, the issues related to land acquisition. These are the two primary bottlenecks that I see in terms of road projects and we are in intensive dialogue with the state governments where the initial recommendation with regards to forest clearance comes and then it comes to ministry of environment and forest as well as land acquisition.
On the funding and the payment side, we don't come into the picture. These are financial issues to be sorted out by National Highways Authority of India (NHAI). If there is any need, they will take it to the Cabinet Committee on Economic Affairs (CCEA) or CCI as the case maybe but we don't come into the picture.
Our job is basically to identify issues and in case there is a policy issue that emerges then we advise the concerned ministry to take it to the Cabinet for a decision because our project monitoring group does not take decisions. We analyse and see how issues could be resolved sitting around the table.
Q: What is your estimated number of what can be cleared by the CCI? You said CCI has cleared Rs 1.5 lakh crore out of some Rs 12 lakh crore projects on its table, how many more are you confident of clearing by the end of the fiscal?
A: The debate three months ago was that the decisions are not happening, some issues are not getting resolved. We have at least crossed that hurdle and gone to a different level of understanding of the issue. I am so glad that what is now being discussed is why you should not do this as well, because there is hope that some of it has happened and a lot of it needs to happen.
If there was no fuel supply agreement, we wouldn't even sit and discuss where this power will be sold because there wouldn't have been any power. So at least the first stage has been crossed. There will be host of issues that will require attention and I am quite sure decision makers are engaged and they are attempting to resolve those issues as well. But a major beginning has been made in terms of creating this platform where there is an opportunity for people to sit around and discuss.
Even the issue that you mentioned, that would also be resolved through discussion. Some of it would be in court but apart from that there is no harm in sitting around. If you have a structural mechanism, through which you can indulge in an open discussion, and through this resolution or non-resolution of issues, you are able to sift out some policy issues which can then be thrown up for a policy decision at a different level.
We work at two levels- one to resolve issues in the field and attempt to see how it moves forward. The other is to identify the issues which are not getting resolved and whether there is a need for policy intervention. Hence, a note gets prepared for a policy decision and that is how it is suppose to happen.
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