Time to focus on project execution

'The status of mega projects under the control of state governments is not available', says the author

The last three decades of the Indian infrastructure development journey have seen strident efforts to garner finances to implement the projects.

Towards this end, not only were budgetary outlays stepped-up but a slew of institutional financing initiatives was unleashed. The earliest was the Infrastructure Leasing and Financial Services in 1987. The next was Infrastructure Development Finance Company — incorporated in 1997. Then came the India Infrastructure Finance Company in 2006, National Infrastructure and Investment Fund in 2015, and the National Bank for Financing Infrastructure and Development in 2021. Simultaneously public-private partnership frameworks were established.

Earlier times had seen sector-specific financing