Govt go-ahead to speedy funding for roads, ports

In two major decisions, the Centre on Thursday tried to pave the way for faster clearance of investment proposals in road and port sector. HT reports.

In two major decisions, the Centre on Thursday tried to pave the way for faster clearance of investment proposals in road and port sector.

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While the Cabinet Committee on Investment (CCI) on Thursday de-linked environment clearance from forest clearance for road projects, security agencies were asked to decide on their clearances for port proposals within 12 weeks.

The move comes just a day after Prime Minister Manmohan Singh hailed the CCI for removing hurdles of regulatory clearances in large investment proposals.

The relaxation of road building norms will ease the way for 20 long-pending projects worth investments of Rs 27,000 crore.

Meanwhile, the shipping ministry has streamlined guidelines for faster security clearance of port projects.

"According to these guidelines, once the security clearance is accorded, it is valid for three years, unless there is a change in shareholding pattern," finance minister P Chidambaram said.