As the country slowly emerges from a severe second wave of the coronavirus pandemic, policymakers in the Central Government have actively been implementing solutions for kickstarting the economy since the previous fiscal. More recently, the setting up of the National Bank for Infrastructure & Financing Development (NaBFID) will ensure long-term financing for major infrastructure projects in critical segments like railway, urban transportation, irrigation and roads & highways.
In an exclusive interaction with us at the ‘InfraNirbhar Webinar Series’ curated by CONSTRUCTION WORLD (our sister publication) in association with Swarajya, Dr. TV Somanathan, Secretary Expenditure, Ministry of Finance, Govt of India affirmed that the humongous new institution will be pivotal to the Central Government’s strategy for facilitating the creation of a robust financing ecosystem in the infrastructure space.
It is also noteworthy, that INFRASTRUCTURE TODAY was among the first news resources to take up the industry’s cause for the creation of such an entity in our pre-Union Budget analysis last year. The magazine’s issue for the January-March quarter had published a long interview with one of its leading proponents from India Inc., Vinayak Chatterjee, Chairman, Feedback Infra Group, outlining the urgency for such a development financial institution (DFI) to boost infrastructure creation in the long haul. With the demand becoming a reality in 2021, Chatterjee explains that if DFIs created in the 1950s made industrial capital accessible, the new body corporate will provide easy access to funding projects critical to nation-building.
The very comprehensive feature on the draft Port Authorities Act, 2020, not only examines the positives of the proposed crucial legislation but also the need to tie up the loose ends. The act will need to ensure that the coastal states have a greater say in the development of port assets.
The two articles in the section on steel by notable sector analysts take a deep dive into the unprecedented rise in prices and outlook for growth of the global commodity in the near and medium-term.
With the losses accumulated by state power distribution companies continuing to go north, the Central Government has set in motion a series of reforms to help mitigate cash flow stress in what is often perceived to be the weakest link in the country’s power supply chain. However, insiders tell the magazine that the task won’t be easy as states are likely to play hardball since electricity is included in the Concurrent List.
This issue also contains several exclusive and insightful interactions including those with Nitin Gadkari, Union Minister for Road Transport & Highways, MV Satish,
Whole-time Director & Senior EVP Buildings, L&T Construction, AK Tyagi, Chairman & Managing Director, Nuberg Engineering and Sanjay Banga, CEO, Tata Power Delhi Distribution Ltd (TPDDL). We also carry the only interview given to an Indian media outlet by Sol Proops, Interim CEO of the Singapore-based Blueleaf Energy, ever since Macquarie’s Green Investment Group (GIG) portfolio firm announced the acquisition of
a majority stake in Hyderabad headquartered Vibrant Energy Holdings in November
last year.
Stay well, stay safe!
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