As part of the strategy to boost infrastructure funding, the finance ministry has convened a meeting of the heads of banks, insurance companies and other financial institutions to discuss the progress made on financing infrastructure projects worth Rs 50,000 crore over the next five years.
The meeting, scheduled for July 19, is expected to review the progress on the proposals received by the finance ministry and also discuss the broad contours of the special purpose vehicle (SPV) route that is to be adopted to raise the funds.
Former finance minister Yashwant Sinha had held a meeting with the heads of banks and other financial institutions on June 13 to discuss alternative ways to fund infrastructure projects.
Since then various ministries, like the railways, have submitted their proposals, which include a requirement of about Rs 1,000 crore for funding the golden quadrilateral announced by railway minister Nitish Kumar in this year