In an attempt to give a fillip to infrastructure facilities in the state and expedite the infrastructure projects, the state government has constituted the Tamil Nadu Infrastructure Development Board.
This decision follows the release of chief minister Jayalalithaa’s vision 2023 document symbolising a strategic plan for infrastructure development in the state.
Aimed at making the state an attractive destination for investors, the government has come out with new rules — Tamil Nadu infrastructure development rules, 2012 — by amending the Tamil Nadu infrastructure development Act, to constitute the board.
The objective of the initiative is to speed up the infrastructure projects in the state and encourage private participation in the development-oriented projects.
The amendment to the rules also facilitates the creation of ‘Tamil Nadu Infrastructure Development Fund’ that will form part of the public accounts of the state and be used to provide financial support for a range of projects under the PPP model.
The chief minister will be the head of the board and the finance minister the vice-chairman and a CEO, in the rank of finance secretary, will be appointed, besides secretaries of various departments, including finance, urban development and industries, being made members.
“The board will identify projects on a priority basis and even make recommendations to the government to sanction the projects.
It will also be a procuring entity where the government is of the view that the board will be the most appropriate for a few classes of projects,” said an order issued by finance secretary K. Shanmugam.
The board may recommend to the government to carry out policy changes if there was any impediment in executing a suggested project.
A unique code number will be allotted to projects and details of the projects will be published on the government’s website.