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Channelise insurance, pension funds to finance infra: Niti Aayog CEO

insurance, pension funds should be channelised to finance infra: Niti Aayog CEO

Press Trust of India  |  New Delhi 

NITI, niti, Amitabh Kant, Amitabh
NITI Aayog CEO Amitabh Kant

CEO on Thursday pitched for channeling and pension funds for financing projects as also for a complete re- examination of the Viability Gap Funding (VGF) scheme.

sector has suffered in due to under-investment for a long time, he said.

"We need to build up environment to tap pension and funds for in projects... VGF scheme needs a complete re-examination," Kant said at Conclave here.

VGF is one-time grant to public-private-partnerships (PPPs) in the sector to fill the funding gap for making projects commercially viable.

Kant said that in last 3 years, has put in lots of resources in building like roads and airports, almost making up for private sector investment in such projects.

"You can do it for short run but not for long run. The challenge is to bring private sector back in the sector," he noted.

The CEO also stressed that needs strong bids and concession evaluation mechanism of PPP projects.

"If you do a well structured project, then definitely you will get response from private sector players," Kant observed.

He also said if wants wants to grow at 9-10 per cent then it must develop its because countries like South Korea, Singapore, Taiwan and Japan grew on the back of good

First Published: Thu, October 26 2017. 14:35 IST