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The Government has approved amendments to the Public-Private Partnerships (PPP) guidelines to enhance financial support to projects in infrastructure sector.
´The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the change in the definition of a ´Private Sector Company´ in the guidelines for financial support to Public-Private Partnerships in Infrastructure under the Viability Gap Funding Scheme (VGF Scheme),´ an official statement said.
This has been done to remove any ambiguity in interpretation of the term ´Private Sector Company´ and to align it with the definition of ´Government Company´ in the Companies Act, 2013, it said..
The definition of a ´Private Sector Company´ has been amended.