Govt has framed India’s first Value Capture Financing policy
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India's first
The principle behind VCF is that the government makes large investments in developing public infrastructure in an area, which leads to rapid economic development there, increasing the prices of the land. It was in July this year that the
A committee, which was headed by additional secretary (urban development) Sameer Sharma, has identified target agencies that could be asked to adopt VCF as a financing tool. These include state governments, central ministries of urban development, railways, road transport, department of industrial policy and promotion, power and shipping.
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"The multiplicity of investment partners, the difference in the types of projects and the constraining resources the projects need, the difference in state and local regulations, the location of the projects and the implementation capacity all add to the complexity of devising a standard VCF policy that can anticipate the effect of these variables," the policy says, as per an ET report.
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