- As economy shatters, Indian rupee plunges, PM Manmohan Singh tells Indians to shun their golden cruiseI am not the custodian of files in coal ministry: Manmohan SinghPM Manmohan Singh's speech in Lok Sabha on current economic situation in IndiaBJP labels PM's speech a reflection of his pessimism and negativism
The Planning Commission will soon bring out a draft note carrying solutions for speedy resolutions of bottlenecks in PPP infrastructure projects. Expected to go for Cabinet's approval in September, the draft note will also spell out an institutional mechanism for resolving issues related to public contracts.
The dispute resolution bill and the PPP note are aimed at restarting the investment cycle and boosting investor confidence. The government envisages investments of $1 trillion in infrastructure projects in the five years ending March 2017, with half the amount coming from the private sector.
In May, amid rising concerns over delays and cost overruns in PPP projects, PM Manmohan Singh had asked the Planning Commission to prepare a draft bill to put in place an institutional mechanism for speedy resolution of issues related to public contracts, in consultation with all stakeholders and ministries. ďThe Planning Commission is in the final stages of drafting a bill for setting up an institutional mechanism to address issues hampering public private projects next month,Ē a commission official said. He said the panel is also finalising a note on the status of PPP projects in India with suggestions to resolve issues that have led to delays.
Planning Commission deputy chairman Montek Singh Ahluwalia held a meeting of secretaries of infrastructure ministries on Friday to discuss the note.