Related Research Articles
A public–private partnership is an arrangement between two or more public and private sectors of a long-term nature. Typically, it involves private capital financing government projects and services up-front, and then drawing profits from taxpayers and/or users over the course of the PPP contract. Public–private partnerships have been implemented in multiple countries and are primarily used for infrastructure projects. They have been used for building, equipping, operating and maintaining schools, hospitals, transport systems, and water and sewerage systems.
The Ministry of Finance is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget.
Vijay L. Kelkar is an Indian economist and academic, who is currently the Chairman of the Forum of Federations, Ottawa & India Development Foundation, New Delhi and Chairman of Janwani – a social initiative of the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) in Pune. He has been appointed as a trustee of Sri Sathya Sai Central Trust on 4 January 2014. He was also the Chairman of the Finance Commission until January 2010. He was earlier Advisor to the Minister of Finance (2002–2004), and is known for his role in economic reforms in India. Prior to this, he remained Finance Secretary, Government of India 1998–1999, and in 1999 he has been nominated as Executive director of India, Bangladesh, Bhutan and Sri Lanka on the board of the International Monetary Fund (IMF).
Vinod Rai is a former IAS officer who served as the 11th Comptroller and Auditor General of India. He assumed office on 7 January 2008 till 22 May 2013. He is the current chairman of UN Panel of External Auditors and Honorary Advisor to the Railways and a member of the Railway Kaya Kalp Council. He holds a master's degree in Economics from the University of Delhi, and Masters in Public Administration from Harvard University. The most prominent actions of CAG under Vinod Rai was the report that stated that the 2G spectrum allocation by the government had caused a loss of over 1 lac crores to the government. Several ministers of the UPA had to resign, some were arrested. It is widely believed that this report by CAG was the single most important setback for the then UPA government. After years of hearing at the CBI court in Delhi, the judge acquitted all the accused saying that there is not an iota of evidence to show that corruption took place and some people created the scam by artfully arranging a few selected facts and exaggerating things beyond recognition to astronomical levels. Vinod Rai was made the chairman of the Banking Board of India by the new Government of NDA by then. On 30 January 2017, the Supreme Court of India appointed Rai as the interim president of the Board of Control for Cricket in India (BCCI). He is the head of advisory commission of Kerala Infrastructure and Investment Board (KIIFB), appointed by Government of Kerala.
Infrastructure Leasing & Financial Services Limited (IL&FS) is an Indian state-funded infrastructure development and finance company. It was created by public sector banks and insurance companies.
The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) is an Act of the Parliament of India to institutionalize financial discipline, reduce India's fiscal deficit, improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget and strengthen fiscal prudence. The main purpose was to eliminate revenue deficit of the country and bring down the fiscal deficit to a manageable 3% of the GDP by March 2008. However, due to the 2007 international financial crisis, the deadlines for the implementation of the targets in the act was initially postponed and subsequently suspended in 2009. In 2011, given the process of ongoing recovery, Economic Advisory Council publicly advised the Government of India to reconsider reinstating the provisions of the FRBMA. N. K. Singh is currently the Chairman of the review committee for Fiscal Responsibility and Budget Management Act, 2003, under the Ministry of Finance (India), Government of India.
Suneet Kumar Maheshwari is an infrastructure business evangelisand is the founder and managing partner of Udvik Infrastructure Advisors LLP, a new boutique infrastructure financial services firm set up comprising a group of senior infrastructure and financing evangelists along with another ~25 mid-senior professionals. Till recently he was the group executive vice-president of L&T Financial Services. He was also on the board of L&T Infrastructure Finance Company Limited, L&T Infra Debt Fund, L&T FinCorp, L&T Infra PE. He was the managing director and chief executive of L&T Infrastructure Finance Company Ltd since its inception in 2006 till March 2014, which is now a Rs 25,000 crores asset base company. He has over 34 years of experience in infrastructure finance, investment banking, corporate finance and private equity at management board level.
The public–private partnership is a commercial legal relationship defined by the Government of India in 2011 as "an arrangement between a government / statutory entity / government owned entity on one side and a private sector entity on the other, for the provision of public assets and/or public services, through investments being made and/or management being undertaken by the private sector entity, for a specified period of time, where there is well defined allocation of risk between the private sector and the public entity and the private entity receives performance linked payments that conform to specified and pre-determined performance standards, measurable by the public entity or its representative".
Arvind Mayaram is an Indian Administrative Service (IAS) officer of 1978 batch belonging to Rajasthan cadre. He was Finance Secretary, Ministry of Finance of Government of India.
Hasmukh Adhia, IAS is an Indian Banker and a civil servant. He is one of the key persons behind the architecture and roll-out of the Goods and Services Tax & Demonetization scheme announced in 2016. He is an Indian Administrative Service (IAS) officer of the 1981 Gujarat cadre batch who served as Finance Secretary and Revenue Secretary of State. He previously served in several capacities for the Indian and Gujarat governments, including as Financial Services Secretary. He is the present Non-Executive Chairman of Bank of Baroda. A week after the government nominated him chairman of state-owned Bank of Baroda, he was appointed as the Chancellor of Central University of Gujarat.
The constitution of Expenditure Management Commission (EMC) of India was announced in the Budget Speech by Finance Minister of India Arun Jaitley in the budget of 2014–15. The Commission will be a recommendation body with the primary responsibility of suggesting major expenditure reforms that will enable the government to reduce and manage its fiscal deficit at more sustainable levels.
The Thirteenth Finance Commission of India was constituted by the President of India under the chairmanship of Vijay L. Kelkar on 13 November 2007.
Shaktikanta Das is a retired 1980 batch Indian Administrative Service (IAS) officer of Tamil Nadu cadre. Currently serving as the 25th governor of the Reserve Bank of India (RBI), he was earlier a member of the Fifteenth Finance Commission and India's Sherpa to the G20.
The Fifteenth Finance Commission is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01. The commission's chairman is Nand Kishore Singh, a senior member of the Bharatiya Janata Party (BJP) since March 2014, with its full-time members being Ajay Narayan Jha, Ashok Lahiri and Anoop Singh. In addition, the commission also has a part-time member in Ramesh Chand. Shaktikanta Das served as a member of the commission from November 2017 to December 2018.
National Investment and Infrastructure Fund (NIIF) is India’s first infrastructure specific investment fund or a sovereign wealth fund that was set up by the Government of India in February 2015. The objective behind creating this fund was to maximize economic impact mainly through infrastructure investment in commercially viable projects, both greenfield and brownfield.
The Parliamentary Standing Committee on Finance (SCOF) is a department related standing committee (DRSC) constituted by the Parliament of India comprising selected members of parliament for the purpose of legislative oversight on the policies and decision making of the following four ministries:
- Ministry of Finance (MoF)
- Ministry of Corporate Affairs
- Ministry of Statistics and Programme Implementation
- NITI Aayog
The Canada Infrastructure Bank(CIB) is a federal Crown Corporation of Canada tasked with financially supporting revenue-generating infrastructure projects that are "in the public interest" through public-private partnerships.
The National Infrastructure Pipeline (NIP) is a group of social and economic infrastructure projects in India over a period of five years with an initial sanctioned amount of ₹111 lakh crore (US$1.5 trillion). The pipeline was first made public by the Prime Minister of India Narendra Modi during his 2019 Independence Day speech.
Atanu Chakraborty is at present the Chairperson of HDFC Bank, India's largest lender by market capitalization, appointed by the Reserve Bank of India in April 2021. He is a 1985 batch officer of the Indian Administrative Service, of the Gujarat cadre, and has served as Economic Affairs Secretary of India till his retirement in April 2020.
References
- ↑ Nair, Remya (30 October 2015). "Kelkar committee to propose overhaul of PPP framework". Livemint . Retrieved 12 December 2016.
- ↑ "Infrastructure development: Kelkar panel on PPP revival submits report to Jaitley - Firstpost". Firstpost. 19 November 2015. Retrieved 12 December 2016.
- ↑ Verma, Ragini (26 May 2015). "Vijay Kelkar heads panel to recast PPP model". Livemint. Retrieved 12 December 2016.
- ↑ Reporter, B. S. (29 December 2015). "Kelkar panel shows the way to revive PPP in infra projects". Business Standard India. Retrieved 12 December 2016.
- ↑ Raghavan, TCA Sharad. "Kelkar chalks out rules for PPP revival". The Hindu. Retrieved 12 December 2016.
- ↑ "Kelkar panel suggests easy funding for PPP projects in infra sector". The Financial Express. 29 December 2015. Retrieved 12 December 2016.