Improved municipal bonds important for core sector: Experts

Improved municipal bonds and infrastructure debt funds would pave the way for infrastructure development and management. This was the consensal view of experts at a seminar held here Wednesday.

Speaking at a panel discussion on "Make in India - Infrastructure Opportunities & Challenges" organised by Confederation of Indian Industry, John M. McCaslin, minister counsellor for commercial affairs at the US embassy, said improved municipal bonds and infrastructure debt funds would pave the path for the development and management of infrastructure over the next decade.

He stressed that public funding for infrastructure is limited owing to fiscal constraints and Prime Minister Narendra Modi's ambitious goal of "Make in India" and building 100 smart cities.

"Most of infrastructure verticals have done well in the last decade and as the economy is moving to next phase of liberalisation, lessons from the past would be incorporated in the infrastructure policy road map for future," said Parvesh Minocha, chairman, Feedback International.

Speakers also discussed the role of infrastructure and how it can play a crucial role in promoting economic growth, reduce disparity and bridge poverty.

The central government envisages an investment of $1 trillion in Indian infrastructure projects in the next decade.

S.K. Agarwal, senior vice president, SBI Capital Markets, said economic viability is one of the priorities for core sector projects and called for more initiatives to create a more robust enabling infrastructure finance environment in the country.

Underscoring the importance of project management skills in infrastructure development, Raj Kalady, country director, Project Management Institute, said it was a tool to narrow down the gap between strategy and desired end-results.

Raj Kalady emphasised the importance of project management in contemporary infrastructure.