Budget 2012: Govt sets up infrastructure debt fund

Budget 2012: Govt sets up infrastructure debt fund

Last Updated: Friday, March 16, 2012, 15:22
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Budget 2012: Govt sets up infrastructure debt fund Zeebiz Bureau

New Delhi: In a bid to prop up investment in infrastructure, the government on Friday announced that it has approved a harmonized master list of infrastructure.

Presenting the General Budget, Finance Minister Pranab Mukherjee said the move will help remove ambiguity in the policy and regulatory domain.

He announced that the government has already set up an Infrastructure Debt Fund with an initial outlay of Rs 8,000 crore in order to tap overseas markets for long-term pension and insurance funds, to finance infrastructure projects.

According to the minister, India Infrastructure Finance Company Limited (IIFCL) has set-up a structure for credit enhancement and take out finance so as to provide ease of access of credit to infrastructure projects. Towards the same aim, a consortium for direct lending and grant of in-principle approval to infrastructure developers before bid submission for PPP projects has also been created.

Further, guidelines have been formulated to allow defence PSUs adopting the PPP mode to set up joint venture companies. This has been done with an objective to achieve substantive self-reliance in the defence sector while leading to production of state-of-the-art defence goods.
First Published: Friday, March 16, 2012, 15:22
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