New Delhi, Aug. 28 -- The government wants to make it easier for investment projects to move from the drawing board to construction-and widen the pool of money available to fund them.

The central government, in coordination with the Department of Economic Affairs (DEA) and Department of Financial Services (DFS), is drafting a new financing framework to build a pipeline of bankable projects and deepen bond markets, according to three people aware of the development.

Bankable projects are those that meet lenders' underwriting standards- with proven technical and financial viability, clear cash flows and manageable risks- allowing them to move from announcement to financial closure.

The framework aims to move projects from announcement to...