(Bloomberg Opinion) — As countries around the world attempt to reopen their borders, officials have come up with an ever-changing list of labyrinthine polices to allow…
Finance Minister Nirmala Sitharaman has called for re-thinking financing and development priorities for ensuring sustainable and resilient infrastructure that would aid Asia’s recovery in the post pandemic world.
Addressing a virtual meeting of the Asia Infrastructure Forum 2021, co-organised by Singapore’s Ministry of Finance and Monetary Authority of Singapore, Sitharaman also stressed the need for re-thinking financing so as to prioritise healthcare and education, ensuring resilience of global supply chains and creating infrastructure aligned with Sustainable Development Goals (SDGs).
Highlights govt’s efforts
She emphasised India’s policy-led approach of open, rule-based and transparent economic environment; encouragement to private investment and foreign capital; enhanced public expenditure and robust institutional structure for funding infrastructure development for resilient recovery.
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Sitharaman highlighted the Indian government’s recent efforts towards setting up of National Bank for Financing Infrastructure and Development (NaBFID), putting in place a National Infrastructure Pipeline, National Monetisation Pipeline, allowing a liberalised FDI, development of Gift City to promote infrastructure development in the country. The Indian government has also incentivised private partners and innovation, she added.