Goa to get Rs.700 cr infra boost

In a major step to give a boost to the poor infrastructure in Goa, the Chief Minister Laxmikant Parsekar has proposed to increase the budget of the state infrastructure development corporation (GSIDC)-the special purpose vehicle for such projects-to Rs 700 crore which is almost three times of the previous year. ´The thrust of my government continues on creating world-class infrastructure for the benefit of the people and in keeping with our vision to transform the state into a vibrant, progressive and advanced economy,´ the Chief Minister said. Parsekar stated that the concept of setting up a state infrastructure fund is being considered by the government for funding the viability gap of new public private participation (PPP) projects in roads, power, water, sanitation, tourism and port sector where ownership rests with the government. The fund, he said would be used to provide short and medium term interest free loans on no cost basis to high priority projects through use of innovative financial means and instruments so as to obviate cash flow problems for such predefined projects.