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

The Economic Times - - Pure Politics -

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.

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