Housing Min Mulls Mkt Route to Fund Urban Missions
An exercise is underway to assess the fund requirement of urban renewal projects till 2022 and flow of investments. Move will help the ministry raise money from the market to meet contingencies and ensure funds for infra targets, says housing and urban af
Our Political Bureau
New Delhi: The ministry of housing and urban affairs is considering borrowing funds from the market to give a push to urban infrastructure projects launched over the last two years.
According to housing and urban affairs minister Hardeep Singh Puri, an exercise is on to assess the requirement of funds for urban renewal projects till 2022 and the likely flow of investments, after which the ministry will push the proposal.
“To overcome the severe infrastructure deficit accumulated over the years, a huge order of investments is required. To meet various contingencies and to ensure fund availability to meet the targets under new urban missions, we are thinking of mobilising resources from the market,” Puri said on Friday. “To ensure assured fund flow, setting up of a special purpose vehicle to tap the market is under examination. Once this idea is firmed up, we will take it forward in an appropriate manner.”
Puri, who was speaking at an event organised by Public Affairs Forum of India, said a comprehensive evaluation of implementation and outcomes of Jawaharlal Nehru National Urban Renewal Mission (JNNURM) will be undertaken. “The terms of evaluation will cover the extent of realisation of stated goals of JNNURM, an assessment of improvement in urban governance further to implementation of reforms, identification of lacunae and reasons for shortfall in physical and financial progress—this evaluation will provide useful guidance to city and state governments in the context of current thrust on urban rejuvenation,” he said. JNNURM was implemented in the period 2005-14, before it was wound up by the previous government. The current government, however, continued to finance some of the incomplete projects based on certain criteria. Puri also announced that a national conclave of states and UTs will be organised for a high-level, mid-tem review with ministers on the progress of various urban missions.