Revamping the PPP framework
In both the railway budget and the general budget, the BJP-led NDA government has made it clear that Public Private Partnership is the preferred mode for driving major infrastructure development projects. This ‘Triple-P’ mode was a common thread in Mr. Jaitley’s speech as he went through several proposed initiatives of the Modi government in sectors such as urban renewal, urban transportation, real estate, and even gas pipelines. No doubt, PPPs represent a valuable device to leverage scarce public funds with private funding to finance critical infrastructure projects. Mr. Jaitley spoke of “the weaknesses of PPP framework, the rigidities in contractual arrangements, the need to develop more nuanced and sophisticated model of contracting and develop quick dispute redressal mechanisms.” The other side of the issue relates to user charges.
PPPs Model: A Valuable Instrument To Speed Up Infrastructure Development In India
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