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NEW DELHI: Setting the stage for a mega infrastructure push, the Cabinet Committee on Investment on Monday decided to fast-track 36 stalled projects, including 28 power projects, with an investment of over Rs 1.5 lakh crore, a move that is expected to boost faltering economic growth.

The panel headed by Prime Minister Manmohan Singh has asked the coal ministry to finalize fuel supply agreements for 18 power projects, involving investment of Rs 82,000 crore, in the next five days. Ministries have been asked to give all pending approvals over the next 60 days, said sources briefed on the matter said. Finance minister P Chidambaram and I& B minister Manish Tewari will make a formal announcement on Tuesday.

CCI was set up earlier this year to fast-track held up projects due to i nter-ministerial wrangling and pending approvals. The finance ministry and banks had identified projects involving investment of over Rs 7 lakh crore that have been held up due to various reasons - ranging from land acquisition to lack of approvals from central and state government agencies.

India, Asia's third largest economy has slowed to a decade low of 5% in 2012-13 and the industrial sector has stalled due to lack of approvals and slowing investments. The government is keen to jump start industrial activity and boost growth.

Earlier this month, Coal India Ltd board approved signing of FSAs for a capacity of 78,000 mw. The company has so far signed 82 FSAs of 34,793 mw capacities.

The coal ministry has expressed willingness to sign the FSAs within the timeframe set by the CCI, sources said.

Fast-tracking the clearances is aimed at reviving investors sentiment and fighting the perception of "policy paralysis" which has hurt the UPA government and dented business confidence.

The government had targeted to add power capacity of 78,700 mw during the 11th five- year plan (2007-12), but managed to add just 54,964 mw, almost 70% of the target. The target for the 12th plan (2012-13 to 2016-17) is to add around 80,000MW of power capacity.