by admin | May 25, 2021 | Investing
New Delhi : The projections for investment in the country’s infrastructure in the last five years has been revised upwards by the government to Rs 38,22,822 crore, Parliament was informed on Friday.
Finance Minister Arun Jaitley told the Lok Sabha during Question Hour that the NITI Aayog had revised the projection for investment in infrastructure in 2012-17 to Rs 38,22,822 crore, which is 1.6 times the investment of Rs 23,77,746 crore achieved during 2007-12 at current prices.
“The total allocation for infrastructure sector in Budget 2017-18 stands at Rs 3,96,135 crore. The government recently announced a major infrastructure push with launch of Bharatmala programme,” he said.
Jaitley noted that there was no central or single registry of infrastructure projects along with their funding in the country.
Infrastructure projects in India are implemented in both public-private partnership (PPP) and private modes, while the public sector projects were implemented by the Centre, state governments as well as local bodies.
The Finance Minister also said the government had taken a number of steps to mobilise funds from various sources for development of infrastructure, including launching of innovative mechanisms like infrastructure debt funds, Real Estate Investment Trusts (REITs), National Investment and Infrastructure Fund (NIIF), issuing a framework for municipal bonds and allowing complete pass-through of income tax to securitisation trusts.
—IANS
by admin | May 25, 2021 | Corporate, Corporate Buzz, Corporate finance, Corporate Reports, Investing
New Delhi : India expects investment of up to $13 billion in infrastructure through the National Investment and Infrastructure Fund (NIIF), even as the government seeks to monetise older assets built through public money for undertaking new projects, a senior official said on Tuesday.
Speaking at an event here, Economic Affairs Secretary S.C. Garg also cited the example of the national carrier Air India, where the government is in the process of selling its stake to the private sector.
“We have established NIIF. That is our first experience in trying to use the sovereign wealth. We put out $3 billion in the NIIF.
“We would raise the equal or higher amount from other participants, sovereign wealth funds, pension funds, other private sector participants to raise a corpus of about $7-8 billion, and then the co-investment will also come in.
“So we expect about A$12-13 billion in investments in infrastructure mobilised through NIIF,” he said.
Citing the government’s decision to divest from Air India, Garg said: “Lot of public assets which are yielding regular kind of return, it is possible to free up invested resources thereby converting them using the InVit (Infrastructure Investment Trust) model so matured assets can be transfered to trusts.”
The government is looking at newer ways of financing infrastructure, he said.
“So how do we get them interested to invest, and therefore we are looking at a number of ways, policy on permitting FPIs (foreign portfolio investors), policy on AIF (Alternative Investment Funds). In short, in financing, these are the major issues and developments,” he said.
—IANS
