Budget 2022: Deploy divestment proceeds for PPP infra projects, says Chetan Ahya

With so much concerns around the actual on ground implementation of the infrastructure projects, Morgan Stanley managing director Chetan Ahya suggests that rather than using the disinvestment receipts to plug the fiscal deficit, the government must make a dedicated fund out of the divestment receipts to be deployed only towards infrastructure expenditure. The strategy, he believes, is akin to what China did to build infra. The Chinese government, which had a lot of land, used the land as equity to finance its infrastructure. “India does not have land but it has ownership of a lot of state-owned enterprises, which should be used for infra funding,” Ahya said.