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Union Budget 2021: Govt should introduce framework for fiscal consolidation of infra firms
FirstpostThe promise of a Budget like ‘never before’ by the finance minister seems to be apt with the daunting task of addressing issues caused by COVID-19 pandemic i.e. While the government spend on infrastructure has taken a backseat due to the allocation of funds for the pandemic package, a new door has been opened by allowing insurance companies to fund infrastructure projects. Considering that the present times require innovation in the form of various financial instruments /mechanisms to fund infrastructure projects, a dedicated infrastructure DFI seems to be a much-needed shot in the arm for the infrastructure sector. Recently, NITI Aayog and Quality Council of India launched ‘National Program and Project Management Policy Framework’ to bring in sweeping reforms in the way execution of infrastructure projects in India. In order to incentivise infrastructure projects, the government should extend lower corporate tax rate of 17.16 percent to other infrastructure companies.
History of this topic
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