Government becomes more accountable for delaying of projects
The developers belonging to the sector of infrastructure want the Government to make sure that the funds are secured and available for a long period of time. They also want banks to be lured enough to borrow. The reason behind this is that the government has established and used several projects over the past decade on the basis of public private partnership.
The road and port constructors have expressed their desire to see the reintroduction of a particular section belonging to the Income Tax Act. This will lure the bank to borrow much more to infrastructures. This has occurred through the National Highway Builders Federation and the Indian Private Ports and Terminals Association.
There are other demands as well. One of them is getting hold of foreign funds which tend to be cheaper. Since the cost of debts in India are extremely high, port companies should definitely allow debt to be refinanced.
Anil Singh, who happens to be the Senior Vice President and Managing Director of the DP world, has started to work towards a clear framework for implementation. This will be done so that ability can be created in all the right places instead of laying emphasis on one particular zone.
Source – Mamuni Das}
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