May 17, 2008

Infrastructure experts call for an independent regulator

Mr Vinayak Chatterjee co chairman of CII National Council on Infrastructure and also chairman of Feedback Ventures Limited recently said that there is a need to set up independent regulatory authorities on energy, transport and urban infrastructure at the state level to ensure smooth implementation of infrastructure projects.

He added that "In the absence of a regulatory authority at the state level, it would be tough to attract private investment for the infrastructure projects."

Mr Chatterjee also stressed on the need for the eastern region states to create an off budget infrastructure development fund, which is already in place in the states of Punjab and Gujarat. He said that "This apart, all states should aim towards effective utilization of all central government schemes like Jawaharlal Nehru Urban Renewal Mission, Viability Gap Funding, Accelerated Power Development and Reform Program and the Transmission and Distribution Fund proposed in this year's union budget."

He pointed out that in 2006-07, West Bengal should have invested INR 15,631 crore on infrastructure projects which comes to 9% of the state's net domestic product of INR 1,73,674 crore.