The state government has set up the Public-Private Partnership (PPP) Policy-2018, with the aim of developing infrastructure with the highest quality of the state and thus rapidly growing economic growth, Minister of State for Infrastructure Development RV Sivakumar said.
“The approval limit of the state level monopoly committee of PPP projects will be increased from Rs 50 crore to Rs 500 crore,” he said.
Besides, a new funding system will be set up by Karnataka Infrastructure Projects Development Fund, Karnataka Viability Gap Fund, National Investment and Infrastructure Fund (NIIF).
“This new policy has given special emphasis on PPP-type schemes in the backward Hyderabad-Karnataka region. One of these is to establish a policy wing in the infrastructure development department for the management of activities related to policies, technologies, law and other dimensions related to these types of projects,” he said.
In addition, a high-level committee will be constituted under the chairmanship of Chief Minister Siddaramaiah for the monitoring and evaluation of policy, Deshpande explained. “A veteran who will be deeply aware of the accumulation of economic resources, urban development and strategic issues to make quick approval for PPP projects and to enforce them quickly.”
Overall, the state infrastructure ministry will function as the Nodal Agency among the Department of Government for implementation of PPP policies and schemes, “the minister said.