GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
UNSTARRED QUESTION NO. 1057
TO BE ANSWERED ON 25TH JULY, 2017
Independent Regulator to Oversee PPP Projects
Will the Minister of FINANCE be pleased to state:
(a) The number of infrastructure projects undertaken by Government under the Public Private Partnership Model in the last three years and the status thereof;
(b) The steps taken by Government to improve efficiency, transparency and framework that assures equal Public and Private returns;
(c) Whether Government plans to have an independent regulator to oversee the PPP projects;
(d) Whether Government has taken any action on the recommendations of the Kelkar Committee report on Public Private Partnership; and
(e) If so, details thereof and if no, reasons thereof?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI ARJUN RAM MEGHWAL)
(a) The PPP projects are being implemented by various different Sponsoring Authorities at Central and State and Local Bodies level and data is not maintained centrally.
(b)to (e) A Committee on Revisiting and Revitalizing the PPP model of Infrastructure Development chaired by Dr. Vijay Kelkar was constituted to review the PPP model in infrastructure. Recommendations of the Committee included, inter alia, a recommendation for setting up of independent sector regulators. Various Ministries have set up independent regulators. Other recommendations included steps to be taken by all stakeholders including public authorities, state and regulators authorities, corporate sector, private developers, development contractors and financial institutions and constant capacity building by each group of stakeholders, etc. Steps taken with reference to recommendations for the Authority include the following: Triggers for Renegotiation Framework & Guidelines were finalized for Roads and Ports; financing vehicles like Infrastructure Investment Trusts (InvITs) have been introduced to promote secondary market for operational assets; new PPP structures like Hybrid Annuity Model AND Toll-Operate-Transfer Model have been introduced.