{"id":3087,"date":"2023-02-15T07:51:12","date_gmt":"2023-02-15T02:21:12","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=3087"},"modified":"2025-03-26T10:13:29","modified_gmt":"2025-03-26T04:43:29","slug":"initiatives-under-infrastructure-and-investment","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/initiatives-under-infrastructure-and-investment\/","title":{"rendered":"Initiatives under Infrastructure and Investment"},"content":{"rendered":"<h2><strong>Key Initiatives under Infrastructure and Investment:<\/strong><\/h2>\n<h3>Support to State Governments for Capital Investment:<\/h3>\n<ul>\n<li><strong>Last year<\/strong>, the <strong>Government of India launched a Scheme Special Assistance to States for Capital Investment <\/strong>for 2022-23.<\/li>\n<li>Under this Scheme, <strong>financial assistance is provided to the State Governments in the form of a 50-year interest-free loan for capital investment projects.<\/strong><\/li>\n<li>The loan provided under the scheme <strong>will be over and above the normal borrowing ceiling<\/strong> allowed to the States.<\/li>\n<li><strong>Budget 2023:<\/strong> The scheme <strong>will be continued for one more year<\/strong> with a significantly <strong>enhanced outlay of ` 1.3 lakh crore.<\/strong><\/li>\n<\/ul>\n<h3>Infrastructure Finance Secretariat:<\/h3>\n<ul>\n<li>The newly established Infrastructure Finance Secretariat <strong>will assist all stakeholders for more private investment in infrastructure<\/strong>, including railways, roads, urban infrastructure, and power, which are predominantly dependent on public resources.<\/li>\n<\/ul>\n<h3>Harmonized Master List of Infrastructure:<\/h3>\n<ul>\n<li><strong>What is it?<\/strong> It <strong>acts as a guide to all agencies involved in the field of infrastructural development<\/strong> and financing in the country.<\/li>\n<li>The <strong>list is updated by a committee<\/strong>, <strong>chaired by Secretary, Department of Economic Affairs<\/strong>, consisting of chief economic adviser, representative from Niti Aayog, Department of Revenue, and other key government agencies.\u00a0<\/li>\n<li><strong>Budget 2023:<\/strong> It <strong>will be reviewed by an expert committee<\/strong> for recommending the <strong>classification and financing framework.<\/strong><\/li>\n<\/ul>\n<h3>Making Cities ready for Municipal Bonds:<\/h3>\n<ul>\n<li><strong>What is a\u00a0 Municipal Bond?<\/strong> It is a <strong>debt instrument issued by municipal corporations<\/strong> or associated bodies in India.<\/li>\n<li>The funds raised are used <strong>to finance socio-economic development projects<\/strong>.<\/li>\n<li>It was <strong>first issued in 1997 by Bangalore local body<\/strong> for infrastructure development projects.<\/li>\n<li>Municipal bonds are <strong>exempted from tax <\/strong>provided the buyer adheres to the rules laid by the municipal corporations. The <strong>interest is also exempted from taxes.<\/strong><\/li>\n<li><strong>Budget 2023:<\/strong> <strong>Cities will be incentivized to improve their credit worthiness<\/strong> for municipal bonds.<strong>f India launched a Scheme Special Assistance to States for Capital Investment <\/strong>for 2022-23.<\/li>\n<li>Under this Scheme, <strong>financial assistance is provided to the State Governments in the form of a 50-year interest-free loan for capital investment projects.<\/strong><\/li>\n<\/ul>\n<h3>\u00a0Urban Infrastructure Development Fund( UIDF):\u00a0<\/h3>\n<ul>\n<li>A UIDF will be <strong>established through the use of priority sector lending shortfall.<\/strong><\/li>\n<li><strong>Purpose<\/strong>: The fund will be <strong>used by public agencies to create urban infrastructure in tier-2 and tier-3 cities.<\/strong><\/li>\n<li>It will be <strong>managed by the National Housing Bank.<\/strong><\/li>\n<li>It <strong>will be established on the lines of<\/strong> the Rural Infrastructure Development Fund (<strong>RIDF<\/strong>).<\/li>\n<li><strong>States will be encouraged to leverage resources from the grants of the 15th Finance Commission<\/strong>, as well as existing schemes, to adopt appropriate user charges while accessing the UIDF.<\/li>\n<\/ul>\n<h3>Urban Sanitation:<\/h3>\n<ul>\n<li>All <strong>cities and towns will be enabled for 100 percent mechanical desludging<\/strong> of septic tanks and sewers <strong>to transition from manhole to machine-hole mode.<\/strong><\/li>\n<li>Enhanced focus will be provided <strong>for the scientific management of dry and wet waste.<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1)\u00a0 What is Rural Infrastructure Development Fund (RIDF)?<\/h3>\n<p>The RIDF was set up by the Government in 1995-96 for financing ongoing rural Infrastructure projects. The Fund is maintained by the National Bank for Agriculture and Rural Development (NABARD).<\/p>\n<p><strong>Source<\/strong>:\u00a0<a href=\"https:\/\/www.ndtv.com\/business\/union-budget-2023-here-are-saptarshi-the-7-priorities-of-union-budget-3742226\" target=\"_blank\" rel=\"nofollow noopener\"><u>Union Budget 2023: Here Are &#8220;Saptarshi&#8221; &#8211; The 7 Priorities Of Union Budget<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Government listed 7 priorities \u2013 called \u2018Saptarishi\u2019 in Budget 2023.<\/p>\n","protected":false},"author":5,"featured_media":3088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3087","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/3087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=3087"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/3087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/3088"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=3087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=3087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=3087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}