The Vijay Kelkar Committee, a committee on reviving Public Private Partnership (PPP) model, has suggested the government to encourage development of infrastructure sectors by ensuring easier funding.
A host of recommendations suggested by the committee included review of the model concession agreements, raising of funds through zero coupon bonds and setting up of independent sectoral regulators.
The report uploaded on the Finance Ministry's website has called for better identification and allocations of risks between the stakeholders and the contracts for the PPP projects.
It said there should be more focus on service delivery than fiscal benefits.
The committee has recommended amendment to the Prevention of Corruption Act to distinguish between genuine errors in decision making and corrupt practices.
PPPs are an important policy instrument that will enable India to compress time in this journey towards economic growth and development. The report was submitted by Kelkar to Finance Minister Arun Jaitley last month.
