New Delhi, Dec 21 (IANS): The power and environment ministries are working together on a policy to fast-track project clearances by which clearances would be considered as deemed in case central and state governments failed to clear them within a specific deadline.

"The power and environment ministries are working together for a policy to allow clearances within a time period. A lot of time is now being consumed on environment and forestry clearances at state and centre levels for power projects. Now, if you won’t get those clearances within a timeline, the clearances would be considered as deemed and the company can start its work,” Power Minister Jyotiraditya Scindia said here Saturday at an interactive session during the 86th Annual General Meeting of the Federation of Indian Chambers of Commerce and Industry.

The Cabinet Committee on Investments (CCI) has put in motion a process to bring 255 stalled projects involving an investment of Rs 10 lakh crore for speedy clearance. On Friday it queried the power ministry regarding land acquisition for ultra mega power projects (UMPP).

Scindia also said the power ministry will circulate two cabinet notes within a month proposing changes in the Tariff Policy and Electricity Act 2003.

“There would be two separate cabinet notes and I am speaking to various stakeholders and it is set to come up within a month’s time," Scindia said.

The various stakeholders in this case are the Central Electricity Authority (CEA), Central Electricity Regulatory Commission (CERC), principal secretaries of all state governments and the power generation, transmission and distribution utilities.