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Home Projects Infrastructure

DIPAM Secretary sees Rs.2.2trn investment in FY2022-24

Fiinews by Fiinews
November 21, 2021
in Infrastructure, Investment, Projects
Reading Time: 2 mins read
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CII

L-R: Uday Kotak, Past President CII; Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management; Ajay Seth, Secretary, Department of Economic Affairs and Chandrajit Banerjee, DG of CII at the Summit.

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Long-term financing is yet to mature in India’s capital markets

The Rs.111 trillion National Infrastructure Pipeline, Rs.6 trillion Asset Monetization Plan and the 13 PLI schemes are expected to generate about Rs.2.2 trillion of investments in FY2022-24, which would possibly lead to a 30% rise in Capex of the private sector. All these are indicators of the Government’s trust in the private sector, Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), told an economic policy summit.

“It is a very bold and clear policy by the Government and its implementation would require private sector participation,” he said at the first edition of the ‘CII Global Economic Policy Summit 2021: Rebuilding Economies’, which organized by the Confederation of Indian Industry 17-18 Nov 2021.

“Air India would be handed over in December, while 5-6 privatisation proposals would be taken forward during this financial year. We can expect financial bids for NINL, SCI, BEML and Pawan Hans during the year,” he informed.

“Addressing new challenges such as energy transition, climate change as well as the fundamental long term challenge of removing poverty and raising standards of living led to several structural reforms. One primary reform is how to work together in more close partnership with private sector,” Pandey said.

Meanwhile, Ajay Seth, Secretary, Department of Economic Affairs, assured that India’s banking sector is now on a much stronger footing post major reforms such as the Insolvency and Bankruptcy Code among others.

However, India’s capital markets are yet to mature in long-term financing area, he noted in a CII release on 17 Nov 2021.

“We are now finding a much more dynamic development of the intermediation between the issuer and investor, that must be leveraged in economic policy thinking,” added Uday Kotak, Past President CII and Chairman of the CII Global Economic Policy.

“The phenomenal recovery and the upswing that we have seen in the Indian economy have been enabled by the various landmark policy reforms undertaken by the Government,” added Chandrajit Banerjee, Director General, Confederation of Indian Industry. #investment #infrastructure #projects /fiinews.com

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