Harsh Kumar Bhanwala, Executive Director, India Infrastructure Finance Corporation (IIFC) stressed on the need to create awareness on tax-free bonds to facilitate growth in the infrastructure sector.
He also said that IIFC, which has an outstanding credit of Rs 25,000 crore, plans to go for second round of fund raising in March.
He said this while addressing a seminar on infrastructure development – Infra East – organised by the Confederation of Indian Industry (CII) in Kolkata recently.
He also called for policy reforms for infrastructure projects especially the need to simplify complex procedural norms. According to Bhanwala, a private bidder has to obtain as many as 30 clearances — including land and environment related approvals — before participating in an infrastructure project under the National Highways Authority of India (NHAI)’s highway development programme.
This has been hindering the speedy completion of infrastructure projects, Bhanwala added.
Meanwhile, Former minister of state for urban development and Trinamool Congress MP Saugata Roy said he urged the West Bengal government to set up infrastructure funds and form an infrastructure development corporation.
Stating that a new airport would be operational at Andal near Durgapur by mid-April, Roy said the State government should ensure infrastructure for a better connectivity with the airport.
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