Govt may set up SPV to speed up execution of urban infrastructure




Minister of Housing & Urban Affairs Shri Hardeep Singh Puri, while addressing ‘Public Affairs Forum of India’ on challenges and opportunities of rapid urbanization, said, “To overcome the severe infrastructure deficit accumulated over long years, huge order of investments is required. To meet various contingencies and to ensure fund availability to meet the targets under new urban missions, we are thinking of mobilising resources from the market. We have undertaken an assessment of requirement of funds till 2022 and likely flow of funds. To ensure assured fund flow, setting up of a Special Purpose Vehicle (SPV) to tap the market is under examination. Once this idea is firmed up, we will take it forward in an appropriate manner”.

Elaborating on the ongoing efforts to further improve urban governance, planning and execution, Puri announced that a comprehensive evaluation of implementation and outcomes of Jawaharlal Nehru National Urban Renewal Mission (JNNURM) will be undertaken which will serve several purposes, it being the first concerted effort to make a difference in urban sector.

The terms of evaluation will cover the extent of realisation of stated goals of JNNURM, an assessment of improvement in urban governance further to implementation of reforms, identification of lacunae and reasons for shortfall in physical and financial progress. This evaluation will provide useful guidance to city and State Governments in the context of current thrust on urban rejuvenation, the minister added.

The Ministry of Housing and Urban Affairs is considering market borrowings to incentivise speedy execution of urban infrastructure projects under various new urban missions launched over the last two years, said a government release.

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