The Cabinet Committee on Investment has directed the Ministries of Defence and Petroleum & Natural Gas to sort out issues pertaining to approvals for 39 oil and gas exploration blocks.
Speaking to mediapersons after the Cabinet meeting, Minister for Information and Broadcasting, Manish Tewari, said the two Ministries have been asked to revert in a month’s time to the committee.
The blocks include those of Reliance Industries, ONGC, and Cairn India.
This was the first meeting of the Cabinet Committee on Investment headed by the Prime Minister Manmohan Singh. It was constituted to expedite clearances of infrastructure projects worth Rs 1,000 crore or more.
Petroleum Minister Veerappa Moily on January 27 had said his Ministry was keen on fast-tracking the approvals for these blocks, with investors, both Indian and foreign, already having pumped in investments worth $13 billion on these assets.
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