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PM to monitor sweeping reforms-II: NELP provisions to be simplified for quicker decision-making
Jun 29: Regulations are in the process of being prepared under which the Prime Minister will supervise the streamlining of the existing provisions of NELP.
8The archaic decision making processes under NELP will be simplified and made quicker.
8This is likely to greatly benefit both ONGC and the RIL-BP combine which have lined up $ 11 billion of investments in the KG Basin.
8The existing NELP contracts provide for cost recovery for which an elaborate approval process exists which has been found to be unwieldy and irksome.
8Greater empowerment for quicker decision making, more transparency and standardized norms can alone provide the necessary expediency, is what the current government thinking is.
8Steps will be taken to provide for an efficient decision making apparatus.
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