Monday, August 29, 2005

Montek speaks tough on city

Montek speaks tough on city
The Times of India

Bangalore: “Bangalore clearly demonstrates the problems that can arise when infrastructure development lags behind economic development. Under the National Urban Renewal Mission, the Centre has asked Karnataka to submit a proposal identifying key infrastructural areas that need an overhaul,’’ said deputy chairman of planning commission, Montek Singh Ahluwalia.

Speaking to reporters on the sidelines of the 13th annual convocation of the National Law School of India University, Ahluwalia said, “accelerated development of infrastructure is a national priority and it calls for a paradigm shift from a purely public sector dominated strategy to one where private investment can play a larger role.’’

In his convocation address, Ahluwalia referred to regulatory structures that have come into existence following private investment in infrastructure. He said, “Regulatory law is new in India and is likely to expand considerably in the years ahead. It is a complex area, which falls in the interface between economics and law. A regulatory system must ensure a balance between the interest of existing public sector suppliers and new private sector supplies.’’


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