Monday October 23, 02:24 AM
India's infrastructure needs a new regulatory frame work: CII
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By Corporate Bureau
Industry body CII has called for a 'new regulatory architecture' to build India's infrastructure. A renewed focus on infrastructure regulation would both increase private sector investments in Indian infrastructure, and enable more efficient management of the infrastructure assets, CII said. CII, jointly with Public-Private Infrastructure Advisory Facility has brought out a study on infrastructure sectors. The report calls for establishing new regulatory framework for infrastructure, and recommends principles that would enhance the effectiveness of regulatory mechanism. for infrastructure.The study said these principles should be given a legal framework . CII has had consultations with the Planning Commissionand other stakeholders in the lead-up to the final report. "Our expectation is that existing infrastructure regulatory bodies, and new ones being contemplated by the Centre and states, will comply with these recommendations.", said Vinayak Chatterjee, chairman, CII National Council for Infrastructure. "The report does not espouse the perspective that all infrastructure sectors must have an economic regulator irrespective of the sectors' market maturity or needs," said Chatterjee.
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