The approval was given under the Scheme for Financial Support to Public Private Partnership (PPP) in Infrastructure for the nine road projects which are from Andhra Pradesh, Uttar Pradesh, Maharashtra and Bihar. The approval covers the stretch of about 1,226 km. The scheme has the provision of the viability gap funding of INR 2,295 crore. For the projects, the government may disburse a sum of about INR 500 crore in the current financial year. The approval was granted by the Empowered Committee which has Mr.Arvind Mayaram, Secretary, and Economic Affairs, as the head. The Secretaries of the Planning Commission, Expenditure Department and the Secretary of line ministry dealing with the subject are also in the Empowered Committee. The scheme was launched in 2005 as the government had realized the real difficulty in meeting the financial needs of the infrastructural sector through public finances alone. With the infrastructure requirement of about USD 1 trillion dollars in the 12th Five Year Plan, the government has been taking efforts to expedite the projects many of which are said to be stuck on account of some regulatory clearances. For those projects which need an investment of INR 1,000 crore or more in the private sector, an investment tracking system has been put in order to supervise the progress of the projects.
Friday, 21 September 2012
Government cleared road projects for about INR 12,000 crore
The approval was given under the Scheme for Financial Support to Public Private Partnership (PPP) in Infrastructure for the nine road projects which are from Andhra Pradesh, Uttar Pradesh, Maharashtra and Bihar. The approval covers the stretch of about 1,226 km. The scheme has the provision of the viability gap funding of INR 2,295 crore. For the projects, the government may disburse a sum of about INR 500 crore in the current financial year. The approval was granted by the Empowered Committee which has Mr.Arvind Mayaram, Secretary, and Economic Affairs, as the head. The Secretaries of the Planning Commission, Expenditure Department and the Secretary of line ministry dealing with the subject are also in the Empowered Committee. The scheme was launched in 2005 as the government had realized the real difficulty in meeting the financial needs of the infrastructural sector through public finances alone. With the infrastructure requirement of about USD 1 trillion dollars in the 12th Five Year Plan, the government has been taking efforts to expedite the projects many of which are said to be stuck on account of some regulatory clearances. For those projects which need an investment of INR 1,000 crore or more in the private sector, an investment tracking system has been put in order to supervise the progress of the projects.
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