The PPP model of development was first coined by the Prime Minister who had sought public participation in achieving the country’s developmental goals
The Dollar Business Bureau
The government on Tuesday reiterated the need to restructure the public-private partnership (PPP) framework to make it more investor-friendly.
“PPP model has tremendous potential and the Prime Minister Narendra Modi had spoken about adding people perspective to it. So, now it has become Public-Private-People Partnership,” said Piyush Goyal, Minister of State (IC) for Power, Coal and New & Renewable Energy,while addressing the Haryana Global Investors Summit on Tuesday. PPP model of development was first coined by the Prime Minister who had sought public participations in achieving the country’s developmental goals.
The Power Minister praised Haryana’s Chief Minister Manohar Lal Khattar for coming out with growth-oriented initiatives, such as the Transit Oriented Development Policy, Deen Dayal Jan Awas Yojna, New & Integrated Licensing Policy and TDR, in the state and said these progressive policies would give great impetus to Haryana.
Underlining that the PPP model is a way forward, Goyal said that the initiative will encourage industrialists, businessmen and new breed of entrepreneurs to usher investments in the domestic market in the long run.
“If India has to develop at the kind of pace that we all wanted to, then clearly the ‘PPP’ or the ‘PPPP’ model is unavoidable. It will be the engine in growth in the infrastructure sector and together we will have to evolve the right regulatory framework which should be simple and predictable,” the minister remarked.
A large part of his PPP speech was concentrated on creating institutional framework around that model to ensure that the new approach would help the government bring a transformation in the country’s economic growth.
The government has, for long, pitched for the development of the country’s key infrastructure sectors, including highways, ports, railways, airports, telecom and power, through the PPP model. The model promotes investments through a partnership between the private sector players and the government, thereby reducing economic risks by a significant margin.
PPP will be the engine in growth in the infrastructure sector and together we will have to evolve the right regulatory framework which should be simple and predictable: Goyal
March 09, 2016 | 05:15pm IST