Empowered Group of Secretaries and Project Development Cells to be set up for attracting investments
Part of: GS-Prelims and GS-III – Economy (FDI)
In News:
“Empowered Group of Secretaries (EGoS) and Project Development Cells (PDCs) in Ministries/Departments of Government of India for attracting investments in India” recently received approval for its set up.
Key takeaways
Empowered Group of Secretaries (EGoS)
Objective is to provide investment support to global investors by bringing synergies and to ensure timely clearances from different departments and Ministries.
Composition:
Cabinet Secretary (Chairperson)
Secretary, Department for Promotion of Industry and Internal Trade (Member Convenor)
CEO, Niti Aayog (Member)
Secretary, Department of Commerce (Member)
Secretary, Department of Revenue (Member)
Secretary, Department of Economic Affairs (Member)
Secretary of Department concerned (to be co-opted)
Project Development Cell (PDC)
The cell will be set up for the development of investible projects in coordination between the Central Government and State Governments.
This will lead to increase in the number of investible projects in India and in turn increase FDI inflows.
