To ensure there is no slippage in reaching the target of $1 trillion infrastructure investment,the government has revived the High-Level Committee on Financing Infrastructure.
Deepak Parekh,chairman,Housing Finance Development Corporation (HDFC) has been appointed as the new chairman of the committee. He will hold this position in honorary capacity with the status of a Minister of State.
The committee was formed in November,2010 under the chairmanship of former deputy governor of Reserve Bank of India,Rakesh Mohan,to review existing infrastructure policies and suggest necessary changes in the investment framework of the high-priority infrastructure sector. The committee has been mandated to assess infrastructure financing requirement by the central government,state governments and the public sector undertakings in the 10 key physical infrastructure sectors electricity,roads and bridges,telecom,railways,irrigation,water supply and sanitation,ports,airports,storage,and oil and gas pipelines.
The high-level panel has constituted five sub-committees to look into various critical issues pertaining to infrastructure financing such as availability of debt and equity,sourcing of overseas funds,estimates of the infrastructure investments and formulation of comprehensive data.
Working groups had made their presentations but they are yet to submit the final report. Once the reports of the sub-committees are in,work on the final report would start, Rakesh Mohan said. The committee has already met 15 times and has to submit its final report by March.