New Delhi, Aug. 13 -- The government believes that public capital must act as a catalyst, not a substitute for private investment, Union finance minister Nirmala Sitharaman said on Wednesday. She said policy measures have been taken to support this principle, citing examples of viability gap funding (VGF), hybrid annuity model (HAM), infrastructure investment trusts, national infrastructure pipeline and the PM Gati Shakti. VGF supports financially constrained but socially desirable projects, HAM ensures balanced risk-sharing in road infrastructure and credit enhancement mechanisms help improve project bankability, she said in her keynote address at the seminar on 'The Role of the New Development Bank in Mobilising Private Capital in Member ...