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CII suggestions to build infrastructure
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Calls for renewed focus on infrastructure regulation
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New Delhi
Feb.23
The Confederation of Indian Industry has called for evolving a `new regulatory architecture' for building infrastructure in the country.
In its meeting with the Deputy Chairman, Planning Commission, Dr Montek Singh Ahluwalia, the chamber emphasised that a renewed focus on infrastructure regulation would both increase private sector investments in infrastructure, and enable more efficient management of infrastructure assets. The chamber asked for regulatory autonomy that should focus on institutional, financial and operational autonomy. Whilst the Government should retain the ultimate right to appoint the regulator, the selection process and mechanism should be institutionalised and made credible.
A report, prepared by the chamber jointly with Public-Private Infrastructure Advisory Facility, calls for guaranteeing financial autonomy for the sector regulators by providing budgetary allocations based on annual work plans and empowering them to levy fees.
The report also calls for an exact manner in which issues of competition shall be addressed and dealt with, clearly harmonising the domain between the Competition Commission and the sector regulators.
Any uncertainties in the legal or the regulatory framework will have an adverse impact on the investments in infrastructure and, consequently on the sector structure.
The chamber has called for constitution of a multi-disciplinary and a dedicated expert National Infrastructure Appellate Tribunal for adjudicating upon appeals arising from various sector regulators in a time-bound manner, as also exercising powers of superintendence over the regulators.
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