Financial Daily from THE HINDU group of publications
Friday, Jan 06, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 06, 2006 |
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Industry & Economy
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Economy Take maximum benefits of Central schemes: Chidambaram Our Bureau
New Delhi , Jan 5 THE Centre today urged the Governments in the States and Union Territories to take maximum benefits from the various initiatives launched by the Centre and invited proposals including that from private entrepreneurs in the States. The Finance Minister, Mr P. Chidambaram, in a letter sent to the Chief Ministers and Heads of UT Governments here, said that Centre's initiatives could be successful only if States provide active support and use the facilities to a maximum extent. He reiterated the Government's commitment to achieve a high growth rate in order to alleviate poverty, increase employment and improve the quality of life of the people. He said that since adequate infrastructure such as telecom, power, highways, ports, airports and urban infrastructure is critical for this, several initiatives have been taken to promote infrastructure development. He also disclosed that he has made a provision of Rs 1,500 crore for viability gap funding for infrastructure projects. The Minister said that to encourage flow of private capital in infrastructure, it has been decided to encourage Public-Private-Partnerships (PPPs). Under such projects, the private partner is entrusted with the project implementation and assumes the consequent commercial risks. Public support in such projects may, `inter alia', include equity participation, grant of rights to charge user fees, financial support including subsidies to make the project commercially viable, the letter added.
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