The 51th Public Private Partnership Appraisal Committee (PPPAC) meeting, chaired by Secretary (Economic Affairs), was held on March 9, 2012. The PPPAC granted approval to seven proposals of Ministry of Road Transport and Highways. The estimated project cost of the approved projects is ` 9153.17 crore. Since its constitution in January 2006, the PPPAC has granted approval to 284 proposals with TPC ` 273123.11 crore. These include National Highways (226 proposals), Ports (23 proposals), Airports (2 proposals), Tourism Infrastructure (1 proposal), Railways (1 proposal), Housing (27 proposals) and Sports Stadia (5 proposals).
In pursuance of the decision of the Cabinet Committee on Infrastructure taken in its meeting held on1.3.2012, on the identification of the harmonised list of infrastructure subsectors a Gazette Notification has been brought out on March 28, 2012, which notifies the harmonised master list of infrastructure sub-sectors. An institutional mechanism to update the harmonised master list of infrastructure has also been constituted through the notification as per the decision of the CCI.
Prices and Inflation
The annual rate of inflation in terms of Wholesale Price Index (WPI) on a point-to-point basis in February, 2012 was 6.95 per cent compared to 9.54 per cent recorded a year ago.
The WPI food inflation (wt. 24.31%) for February, 2012 was 5.94 per cent as compared to 6.77 per cent in February, 2011.
The annual rate of inflation in terms of Consumer Price Index for Industrial Workers (CPI-IW) on a point-to-point basis in February 2012 was 7.57 per cent compared to 8.82 per cent recorded a year ago.
Annual rate of inflation in terms of Consumer Price Indices for Agricultural and Rural labourers was 6.34 per cent and 6.68 per cent respectively in February, 2012 as compared to 8.55 per cent for both in February, 2011.
Money and Supply
The year-on-year growth of Broad Money (M3) as on March 23, 2012 was 13 per cent as compared to 16.1 per cent on the corresponding date of the previous year.
Bank credit extended by Scheduled Commercial Banks (SCBs), as on March 23, 2012 recorded an increase of 17 per cent on year-on-year basis, as compared to an increase of 21.5 per cent on the corresponding date of the previous year.
Non-food credit as on March 23, 2012, registered an increase of 16.9 per cent as compared to the level on March 25, 2011.
The aggregate deposits of SCBs, as on March 23, 2012 recorded an increase of 13.4 per cent on year-on-year basis, compared to 15.9 per cent recorded on the corresponding date of the previous year.
Foreign Currency Assets
India's foreign currency assets at the end of March, 2012, amounted to US $ 260.7 billion. This shows a decrease of US $ 13.9 billion over the level of US $ 274.6 billion at the end of March 2011.
Exchange Rate Movement
During the fiscal year (2011-12), the monthly average exchange rate of rupee was ` 50.32 per US $ in March, 2012, indicating a depreciation of 2.3 per cent over the ` 49.17 per US $ in February, 2012.
Viability Gap Funding
During the financial year 2011-12, a budget provision of ` 300 crore was made for as Viability Gap Funding (VGF) under the Scheme for Financial Support to PPPs in Infrastructure and the entire amount of ` 300 crore has been disbursed.
A budget provision of ` 7 crore was made during financial year 2011-12 a project development support under India Infrastructure Project Development Fund (IIPDF) and the entire amount of ` 7 crore has been disbursed.