Industry & Economy
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Infrastructure
Indo-US summit to discuss infrastructure issues
Our Bureau
New Delhi
,
Feb. 8
THE Indo-American Chamber of Commerce has drafted a seven-point agenda to give a critical push to the infrastructure sectors such as ports, roads, airports and urban development in the country.
On top of the agenda is the formation of a high-powered committee with powers to award incentives for corporations/companies which complete projects in time and impose penalties for unwarranted delays. "This would help in reducing the time and cost overruns of the infrastructure projects which aggregate into several crores. Such a mechanism will also induct a degree of urgency in the timely completion of projects. The proposed body should monitor not only central projects but also State-level infrastructure works," an official said.
The chamber's agenda also lays stress on setting up sectoral regulatory bodies having quasi-judicial powers to settle disputes, set tariffs, issue operational guidelines to oversee granting of licence, competition and regulation.
The agenda will be discussed at the Indo-US Infrastructure Summit here on February 9 and 10.
The chamber has recommended that a portion of the foreign exchange reserves be used for funding infrastructure projects.
Moreover, the Government should focus on attracting long-term debt market money, pension funds and insurance money for financing projects.
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