Harmonized Master List of Infrastructure Approved Infrastructure Debt Fund of Rs. 8000 Crore Launched Defence Psus Can Form JVs FOR PPPs.

Press Information Bureau

Government of India

Ministry of Finance

16-March-2012 14:06 IST

Harmonized Master List of Infrastructure Approved

Infrastructure Debt Fund of Rs. 8000 Crore Launched

Defence Psus Can Form JVs FOR PPPs

Presenting the General Budget 2012-13 in LokSabhahere today,ShriPranab Mukherjee, Finance Minister stated that a harmonized master list of infrastructure has been approved by the Government. This will help in removing ambiguity in the policy and regulatory domain and encourage investment in the infrastructure sector, he stated.

The Finance Minister, Shri Mukherjee informed that an Infrastructure Debt Fund with an initial size of Rs. 8000 crore has been launched earlier this month to tap the overseas markets for long term pension and insurance funds, for financing infrastructure projects. In order to provide ease of access of credit to infrastructure projects, India Infrastructure Finance Company Limited (IIFCL) has set-up a structure for credit enhancement and take-out finance. 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.

The Finance Minister stated that the Government has approved guidelines under which defence Public Sector Undertakings adopting the PPP mode, can establish joint venture companies. This, he mentioned, will serve the two-fold objective of achieving substantive self-reliance in the defence sector while leading to production of state-of-the-art defence goods.

DSM/MV/LMP/19