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RELATED LINKS AND DOCUMENTS
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| | A Snapshot Of Infrastructure Projects In India
Projects included are management or lease contracts, concessions, greenfield projects, and divestitures
Public-Private Infrastructure Advisory Facility and World Bank
| | Accounting For Growth: Comparing India And China
Barry Bosworth and Susan M. Collins
NBER Working Paper No.12943. National Bureau of Economic Research, Cambridge, February 2007
This paper compares the recent economic performances of China and India using a simple growth accounting framework that produces estimates of the contribution of labor, capital, education, and total factor productivity for the three sectors of agriculture, industry, and services as well as for the aggregate economy. The analysis incorporates recent data revisions in both countries and includes extensive discussion of the underlying data series. The growth accounts show a roughly equal division in each country between the contributions of capital accumulation and TFP to growth in output per worker over the period 1978-2004, and an acceleration of growth when the period is divided at 1993. However, the magnitude of output growth in China is roughly double that of India at the aggregate level, and also higher in each of the three sectors in both sub-periods.
| | Approach to Regulation of Infrastructure: Issues and Options
Planning Commision, Government of India
This paper analyses the current state of regulatory law and policy in India and proposes a broad policy approach to guide the next stage of regulatory reform. It suggests a cogent philosophy of regulation that outlines the role and scope of regulatory institutions, and their relationship with the legislative and executive wings of government as well as the people at large.
| | Benefits for Infrastructure Sector announced in the Union Budget from 1991-92 to 2007-08.
Complied from Finance Minister’s Budget Speeches to the Parliament
Compilation of fiscal benefits and policy incentives for infrastructure sector announced in the Union Budget from 1991-92 to 2007-08
| | Can Good Economics Ever Be Good Politics? Case Study Of India's Power Sector
Sumir Lal
Wold Bank Working Paper 83. World Bank, Washington, D.C., June 2006
In recent years, the power sector in several developing countries has suffered from this frustrating gap between strong, pro-reform rhetoric at the political level and weak, hesitant implementation of the reform measures on the ground. This paper takes a fresh look at the problem of the “rhetoric-implementation gap ”by taking the lack of political will as its starting point, and analyzing its causes in the current context of India. Though focused specially on the recent experience of power sector reform in India, its observations and conclusions will be of interest to those advocating similar reform programs, in democratic environments, in developing countries across the world.
| | Estimation of Infrastructure Investment Needs in the South Asia Region
Isabel Chatterton and Olga Susana Puerto.
World Bank, Washington, D.C., 2006
Fay & Yepes (2003) estimated worldwide infrastructure investment requirements by region and income group from a set of 147 countries. Their technique gives an indication of the necessary investment to satisfy consumer and producer demand, based on some predicted rate of GDP growth. This document presents the refined estimations for the South Asia Region (SAR), based on Fay & Yepes. The results are ball park figures that are considered lower bound estimations of investment needs (as rehabilitation needs are excluded due to lack of data). The results of this estimation suggest that a 7.5% GDP growth in South Asia would result in increased demand for infrastructure services that in turn would require investment amounting to about 5% of GDP plus a further 2% of GDP capital replacement
| | Facilitating Public–Private Partnership for Accelerated Infrastructure Development in India
Asian Development Bank
ADB, Manila, December 2006
The Department of Economic Affairs (DEA), Ministry of Finance, Government of India, and the Asian Development Bank (ADB) organized four Regional Workshops of Chief Secretaries on Public–Private Partnership (PPP) for Accelerated Infrastructure Development in India. The workshops were held between June and September 2006. This report summarizes the principal themes, issues, and messages that emerged during the workshops. It draws on the workshop presentations and the discussions that ensued.
| | Global Toll Road Rating Guidelines
Fitch Ratings Criteria Report. Fitch Ratings, New York, March 6, 2007
Historically, toll roads as an asset class has been subject to relatively low default rates. However, a number of projects have been subject to periods of distress, in large part due to the inability to forecast initial traffic and revenue performance with accuracy. The report describes Fitch’s view in more detail and guides readers through the analytical framework used in assessing the credit quality of various types of toll roads and financing structures. This report also identifies new structural and analytical approaches to enhance bondholder security and achieve and maintain investment-grade ratings for highly leveraged and very long-lived concession like arrangements
| | India - Building Capacities For Public Private Partnerships
Chris Shugart; Inderbir Singh Dhingra; Clive Harris and Mark Dutz
World Bank, Washington, D.C., June 2006
India has seen real progress over the last 10 years in attracting private investment into the infrastructure sectors, first in telecommunications, and now in ports and roads, and in individual projects in other sectors. There is the potential for PPPs to contribute more and help meet the infrastructure gap in India. This report looks at both organizational and individual capacities, the former including policy and legal frameworks, and institutions and processes but focuses on projects where private investment has been made, and where the government is either the purchaser of services under the project, or where it provides a financial contribution through direct investment or through risk bearing. The main sectors of focus are transportation (ports, airports, roads, and rail), water and sanitation and other urban infrastructure (solid waste management, light rail, bus terminals).
| | Indian Ports Association : Co-ordination of business plans for major ports in India – Consolidated Port Development Plan
This report by Port Rotterdam for The Indian Ports Association, provides an overview of the business plans of the 12 major ports. The overall goal of the business plan for the ports is “to transform Indian Ports into world class facilities suited to the requirements of the future economy of India”
| | Reforming Power Markets in Developing Countries: What Have We Learned?
John E. Besant-Jones
Energy and Mining Sector Board Discussion Paper No.19. World Bank, Washington, D.C., September 2006
The global movement to reform electric power markets has advanced considerably since it started during the 1980s. Developing countries and transition economies have participated widely in this movement, despite huge challenges for implementing such complex changes in their economic condition. To date, about 70 developing countries and transition economies have embarked on reforming their power markets—some to a considerable extent, others more tentatively. This paper compiles the lessons of experience from the reforming of power markets of developing countries and transition economies.
| | Regulatory Framework for Infrastructure
D. Narasimha Rao and Subhashish Gupta
India Resident Mission Policy Brief Series No. 8. Asian Development Bank, New Delhi, 2006
Independent regulation has emerged in the last two decades as a fourth branch of government. This movement has been propelled by the privatization of state-owned infrastructure sectors. Independent regulatory agencies have been set up in India for electri- city and telecommunications in the last seven years. A semi-autonomous tariff regulator was established for ports in 1997. Establishing regulators in petroleum, natural gas, aviation, and rail industries considered. This paper reviews two aspects of independent regulation: institutional efficacy, including primarily autonomy, capacity, and accountability; the mode of regulation, or the regulator’s functional scope. The recommendations are, by and large, concerned with regulatory process, including member/staff selection, rulemaking, and appeals but also consider the role of the executive and legislative intervention therein.
| | Report of the High Powered Expert Committee on Making Mumbai An International Financial Centre
Ministry of Finance, Government of India
This report examines the case for Mumbai to emerge as an International Financial Centre (IFC) as India takes its place in the world.
| | The Basic Public Finance of Public-Private Partnerships
Eduardo Engel, Ronald Fischer and Alexander Galetovic
NBER Working Paper No. 13284. National Bureau of Economic Research, Massachusetts, July 2007
Public-private partnerships (PPPs) cannot be justified because they free public funds. When PPPs are desirable because the private sector is more efficient, the contract that optimally trades demand risk, user-fee distortions and the opportunity cost of public funds is characterized by a minimum revenue guarantee and a cap on the firm's revenues. Yet income guarantees and revenue sharing arrangements observed in practice differ fundamentally from those suggested by the optimal contract. The optimal contract can be implemented via a competitive auction with realistic informational requirements; and risk allocation under the optimal contract suggests that PPPs are closer to public provision than to privatization
| | The Report of the Committee on Infrastructure Financing
Deepak Parekh
India, Department of Economic Affairs, Ministry of Finance, May 2007
To sustain GDP growth rate at 9 percent per annum in the medium term, investment in infrastructure would have to be substantially augmented. According to the Government, India would need about $ 320 billion investment (at 2005/06 prices) in various infrastructure sectors during the Eleventh Five Year Plan (2007-12). The Committee has proposed to revise the infrastructure spending target from USD 320 billion (at 2005/06 prices) to USD 384 billion at 2005/06 prices (which translates to USD 475 billion at current prices)
| | The Role of Tolls in Financing 21st Century Highways
Peter Samuel
Reason Foundation Policy Study 359. Reason Foundation, California, May 2007
This report analyses the feasibility of using toll finance for funding the US transportation system by adopting the long-term concession model. Lack of proper investment in road capacity, congestion costs Americans at least $168 billion each year. Federal and state highway budgets do not generate enough revenue to properly maintain, expand and modernize the existing highway system.
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