Huge amount of money is required to upgrade our cities. Govt funds are not enough. So Private investment is required to supplement public investment. But why will the private investor invest unless he has confidence that he will have a reasonable return on investment. To guarantee this, we need a new law and a Regulatory Authority.
This was one of the decisions reached in the roundtable conference that we had in Delhi. Representatives of Planning Commission, Ministry of Finance (Department of Economic Affairs), Municipal Commission and State Govt met today morning at Nirman Bhavan. I am the convenor of the group.
The best part was that though all Planning Commission, DEA and UD are all located in Delhi and all are working in the field of PPP - there is little synergy among them. Our meeting achieved a rare co-ordination. I hope to sustain it.
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Yesterday, I met Mr Lohia, JS UD and we talked at length about a new concept of having a smart card that can be used in all public transport such as buses, metros, local trains, parking fees etc. More of this later when the designated agency comes to Kolkata to give a presentation.
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