|
The country’s cash-starved infrastructure sector may draw insurance and pension funds with the sector regulators planning to ease investment norms for these companies.
Insurance and pension firms have access to long-term funds, but they have largely steered clear of committing that money into the sector because of several restrictions imposed on them.
The government is now keen to attract these funds as it has realised that without their contribution it will fall short of meeting its target of spending $1 trillion in public work projects in the five years to 2017. "There is a need to tweak investment guidelines to allow for greater flow of funds to creation of infrastructure assets," a finance ministry official said. "Regulators have indicated that they will revisit the norms."
R Gopalan, secy in Department of Economic Affairs, has written to Irda and PFRDA requesting them to expedite the process. Source : Economic Times
|
