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A month into its functioning, the NITI Aayog - which replaced the Planning Commission of India - has gradually started performing the dual role of a monitor as well as an advisor.
Though things are still in a fluid stage within the four walls of the Aayog, since January 1 this year it has held discussion on fine-tuning the monitoring and evaluation of schemes and programmes.
It also organised meetings to find out ways to speed up infrastructure development and also reviewed the progress of projects which have been inordinately delayed.
In between, it has been also been advising ministries and departments on various initiatives of the Central government, a work which it did in its earlier avatar as Planning Commission.
"We are also being consulted by the Prime Minister's Office (PMO) on various matters of national importance, including how could completion of big infrastructure projects speed up," a senior official, who participated in one of the deliberations, said.
He said this makes the Aayog a cross between the now-defunct Economic Advisory Council and Planning Commission.
One major suggestion that the Aayog plans to make to the PMO and others is mandatory techno-economic analysis of all pending and new big infrastructure projects, which will give out the actual cost of them and also an estimated time of its completion.
Presently, projected cost of most large infra project is done at the time of approval, which more often than not leads to cost escalation at the time of completion as inflation is not factored in.
This not only leads to massive overruns, but is also a burden on exchequer and leads to delayed completion.
"Once a proper techno-economic analysis is done of the pending projects, we can get a fair idea of the fund required to complete the same and also an estimate as to when it could be completed," the official said.
This will not only help in proper planning, but will also assist in arranging of funds.
"Almost 80-85 per cent of the pending 700 big infrastructure projects in the country is delayed due to a variety of reasons. If we can ensure time-bound and early completion of even half of them, then itself is a big achievement," he explained. The issue was discussed in one of the meetings in the last one month. A clear picture on the relationship that NITI Aayog will have with the state governments, after powers to allocate plan funds was shifted to the finance ministry, is also expected to emerge after the weekend meeting.
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