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Infrastructure is critical for our development. For 2011-12, an allocation of over Rs 2,14,000 crore is being made for this sector, which is 23.3 per cent higher than current year. This amounts to 48.5 per cent of the Gross Budgetary Support to plan expenditure.
Our experience with PPP model for creation of public sector assets in the country has been good. We have recently launched the National Capacity Building Programme to enhance capacities of public functionaries in identifying, conceptualising, structuring and managing PPPs. It is our endeavour to come up with a comprehensive policy that can be used by the Centre and the State Governments in further developing public-private partnerships.
The Government established India Infrastructure Finance Company Ltd to provide long-term financial assistance to infrastructure projects. It is expected to achieve a cumulative disbursement target of Rs 20,000 crore by March 31, 2011 and Rs 25,000 crore by March 31, 2012. The take-out financing scheme announced in the Budget 2009-10 has been implemented and seven projects have been sanctioned with a debt of Rs 1,500 crore. Another Rs 5,000 crore will be sanctioned during 2011-12.
In order to give a boost to infrastructure development in railways, ports, housing and highways development, I propose to allow tax free bonds of Rs 30,000 crore to be issued by various Government undertakings in the year 2011-12.
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