F. No. 511/1/4/2010-CA.IV
Cabinet Secretariat
Rashtrapati Bhavan
********

New Delhi, the 15th November, 2010

ORDER

Subject:- Setting up a High Level Committee on Financing Infrastructure.

It has been decided to constitute a High Level Committee on Financing Infrastructure under the Chairmanship of Dr. Rakesh Mohan who will hold this assignment in an honorary capacity with the status of a Minister of State.

2. The composition of the Committee shall be as under:

Chairman

(i) Dr. Rakesh Mohan (in honorary capacity, with status of Minister of State).

Members

(ii) Secretary, D/o Economic Affairs.
(iii) Secretary, D/o Financial Services.
(iv) Chairman, Insurance Regulatory and Development Authority.
(v) Chairperson, Pension Fund Regulatory and Development Authority.
(vi) Deputy Governor of RBI to be nominated by Governor, RBI.
(vii) Chairman. State Bank of India.
(viii) Chairman, Life Insurance Corporation of India.
(ix) Chairman, Power Finance Corporation.
(x) Managing Director, ICICI Bank.
(xi) Managing Director, Infrastructure Development Finance Company Limited (IDFC).
(xii) Shri Uday Kotak, Kotak Mahindra Bank,
(xiii) Shri G.M. Rao, Chairman, GMR Group,
(xiv) Shri Sanjay Reddy, Managing Director, GVK Group.
(xv) Country Head, Goldman Sachs,
(xvi) Shri Madhav Dhar, Managing Partner, Traxis Partners.

Member Convenor

(xvii) Shri Gajendra Haldea, Adviser to Deputy Chairman, Planning Commission.

Special Invitees

(i) Chairman, Railway Board.
(ii) Secretary, M/o Power.
(iii) Secretary, M/o Road Transport and Highways.
(iv) Secretary, M/o Urban Development.
(v) Secretary, M/o Petroleum & Natural Gas.
(vi} Secretary, M/o Telecommunications
(vii) Secretary, M/o Water Resources.
(viii) Chief Economic Adviser, M/o Finance.

3. The terms of reference of the Committee will be as under:

(i) To assess the investment required to be made by the Central and State Government), Public Sector Undertakings (PSUs) and the private sector in the ten major physical infrastructure sectors during the Twelfth Five Year Plan.

(ii) To identify areas and activities to be financed by the government, PSUs and the private sector respectively;

(iii) To suggest ways to enable the requisite flows of private investment in infrastructure including the creation of a supportive investor-friendly environment;

(iv) Make recommendations on the role government could play in developing the capital markets for intermediating long term savings for investments in infrastructure projects, including the fostering of appropriate institutional arrangements;

(v) Examine the role of international capital flows in infrastructure financing and development, assess the nature of projects likely to receive such capital, and consider how such financing can be obtained, in a sustainable manner,

(vi) Identify any regulatory/legal impediments constraining private investment in infrastructure, and make specific recommendations to facilitate their removal.

4. The Committee may co-opt uplo three additional members. The Committee may also consult multilateral development banks, private entities, experts, etc. The Committee may get special studies carried out by expert bodies, consulting firms and experts. It may also take upto five governrnent/PSU officials on deputation. The Committee may visit such places and consult such stakeholders and experts as may be necessary for its work. The Committee will be allocated a budget of Rs.3 crore from the plan allocation of Planning Commission for travel, commissioning of studies, etc.

5. The Committee will be serviced by the Planning Commission and the Infrastructure Development Finance Company (IDFC). The headquarters of the Committee will be at New Delhi.

6. The tenure of the Committee shall be 18 months.

To

The Chairman, Members and Special Invitees of the Committee.

(Mala Dutt)
Director
Tel: 23792357