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Evolution Of Infrastructure Finance In India

By Author: Raman Kumar
Total Articles: 3

Infrastructure companies in India invest in the infrastructure sector, which is one of the main drivers of the Indian economy. The infrastructure sector has a great responsibility for pushing India’s overall development ahead and enjoys intense attention from the Government of India. The Indian Government has made a lot of efforts to ensure that world-class infrastructure develops in India within adequate timeframes. The Government has done this by initiating and developing policies to quicken the pace of infrastructure development and to help infrastructure companies in India succeed and propel the nation forward.

The Infrastructure sector comprises sectors such as bridges, power, roads, dams, and urban infrastructure development.

India enjoys a high budgetary allocation for the development of the infrastructure sector. The Government of India provided an enormous push to the infrastructure sector in the Union Budget of 2017-18 by allocating US$ 61.92 billion for the infrastructure sector.

The country has also seen the infrastructure sector witnessed a rising number of infrastructure-related deals by infrastructure companies and infrastructure finance companies. There were 33 deals totalling US$ 3.49 billion in FY2016-17 as against US$ 2.98 billion raised in FY2015-16 from 31 deals. The majority of these deals were within the roads, power, and renewable sectors.

The growth of most developed economies has been led by the expansion of economic activity from the metros to more rural towns and cities. Prime Minister Narendra Modi has rolled out a huge plan to do with creating smart cities in India. This will require the participation of infrastructure companies and infrastructure finance companies in India.

Speaking at the ET India Infra Summit in 2017, Indian Minister of Urban Development, Mr M Venkaiah Naidu elaborated on how the creation of smart cities will depend on the leadership provided by Government and the private sector. He said: “Wherever there is a good CEO of a smart city, where there is a good special purpose vehicle (SPV), or a good municipal commissioner, or a good mayor or a state chief minister who is visionary, things are moving faster. In other places, in spite of all my attempts, things are not moving. So, you need proper men, proper leadership. In the coming days the Smart Cities, the AMRUT (Atal Mission for Rejuvenation of Urban Transformation) Cities, the HRIDAY Cities, housing for all and then this Swachh Bharat, all these things will get further momentum.”

Infrastructure development is the backbone of the Indian economy and requires both government and private efforts to ensure that India develops world-class infrastructure. Infrastructure companies will continue to remain at the forefront of this push to develop and modernize India’s infrastructure.

Author Bio

The author of this article discusses the evolution of infrastructure finance and the role of infrastructure companies in India in the growth of infrastructure development.

Total Views: 61Word Count: 458See All articles From Author

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