With the intention to speed up infrastructure projects, India's PM Dr. Manmohan Singh has asked the planning board to launch a process in order to measure the targets of all key projects on a quarterly basis.

According to functionaries, these objectives would be tracjed by the Cabinet Committee on Infrastructure (CCI) led by the Prime Minister.

The Planning Commission, which will make the quarterly reports to be presented to the CCI, is destined to introduce the physical objectives for each ministry, which handles infra projects.

It has also been settled that the position of infrastructure development would open to public scrutiny as the Ministries dealing with roads, power, railways, sea ports and airports would post their aims as well as achievements on their internet sites.

The sources stated that all infra projects would not fall under the proposed monitoring mechanism, though.

In the meantime, the planning board has decided to establish a mega fund with seed money of Rs 500 billion to facilitate investment of more than Rs 450 billion in the infrastructure sector during the 12th Plan (2012-17) period.

The plan panel has set up a board headed by HDFC Chairman Deepak Parekh to inspect funding of major infrastructure projects. The committee would submit its report to the plan panel in two weeks. (With Inputs from Agencies)