Union Finance Minister Nirmala Sitharaman, on June 28, announced a new 'streamlined' processes for public-private partnership (PPP) projects and asset monetisation.
The new process is aimed at ensuring speedy clearance of projects to facilitate private sector's efficiencies in financing construction and management of infrastructure, the finance minister said during a press conference.
"Current process for approvals of PPP projects is long and involves multiple levels of approvals," the finance ministry said in its presentation.
The new policy will be formulated for appraisal and approval of PPP proposals and monetisation of core infrastructure assets, including through InvITs, FM Sitharaman said.
The finance minister announced some new relief measures amid economic distress caused by the second wave of COVID-19 in the country.
Among new measures announced on June 28 was a Rs 1.1-lakh crore loan guarantee scheme for COVID-affected sectors. The loan guarantee scheme includes Rs 50,000 for health sector and Rs 60,000 for other sectors.
The Credit line Emergency Credit Line Guarantee Scheme (ECLGS) given as part of Aatmanirbhar Bharat package was also extended by another Rs 1.5 lakh crore.