Govt amends norms for financial support to PPP in infra

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Real Estate Construction and InfrastructureThe Government of India approved amendments to the Public Private Partnership (PPP) guidelines to enhance financial support to projects in the infrastructure sector.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the change in the definition of a ‘Private Sector Company’ in the guidelines for financial support to PPP in Infrastructure under the Viability Gap Funding Scheme (VGF Scheme), an official statement said.

As per the amendment, a ‘Private Sector Company’ means a company which is not a ‘Government Company’.

“Government company is defined as “any company in which not less than 51 percent of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments, and includes a company which is a subsidiary company of such a Government company,” it said.

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