Only 26 out of 98 sanctioned textile parks built since 2005: CAG

New Delhi, Mar 29 (KNN) Out of the 98 textile parks sanctioned since 2005, only 26 parks have been considered as ‘completed’ as of February 2022, Comptroller and Auditor General (CAG) report said on Monday.

The report tabled in Parliament disclosed that the government released grants totalling Rs 1,593 crore for these 98 parks.

As per reports, out of the remains 72 parks, 30 parks were ongoing while 42 parks had been cancelled.

“During the 10th Plan period (2005-07), it was envisaged to complete 25 parks in around 18 months,” it said.

CAG further added that the scheduled time for completion for parks sanctioned during the 11th Plan period (2007-12) was kept as 24 months from the first release of grants by the Government of India. Further, during the 12th Plan period (2012-17), the completion period for the parks was estimated to be three years.

The major reasons for delay in completion of parks was due to delays in obtaining statutory clearances, issues related to land allotment for the parks and the weak financial strength of the Special Purpose Vehicles created for the parks.  (KNN Bureau)