“To actualize the ambitious targets set out for investments and employment generation through the National Infrastructure Pipeline, overcoming the challenges posed by COVID I would like the Budget to set out a clear policy track for infrastructure development covering
- Create a facilitative environment by effective implementation of the Kelkar Committee recommendations on reviving PPP in particular
- Establish 3PI to bring robust bid process, fair contractual design and contract management and enforcement.
- Resolve credit risk for payments by state owned enterprises and provide for risks of changing laws (like climate change and environment protection laws, tax laws) and force majeure.
- Implementing the Specific Relief (Amendment) Act 2018 by establishing special courts for fast track dispute resolution in PPP projects.
- Nudge energy transition through climate change by establishing carbon markets, ancillary services markets which would fund climate transition by pricing the positive externalities of eVs, battery storage and grid stability.
- Secure cheaper long-term finance for infrastructure assets by relaxing investment restrictions through IRDA, PFRDA, sovereign wealth funds, funding and strengthening the National Bank for Financing Infrastructure & Development, establishing a robust bond market”
