An Evaluation of Public Private Partnership for Infrastructural Development with Special Reference to Roads in Uttar Pradesh

Abstract

Indian economy is growing at a really quick pace and it has a dynamic and strong financial system. This extremely diversified economy has shown fast growth and memorable resilience since 1991, once economic reforms were initiated with the progressive gap of the economy to international trade and investment. newlineHigh quality infrastructure is the most dynamic requirement for continuing growth rate of an economy. This sector includes telecommunications, transport, road, electric power, rail, air, water supply and irrigation as well. But this sector requires huge funds. In order to fulfil such requirements, public private Partnerships (PPPs) is being promoted for rapid development of infrastructure. PPP comprises forms of partnership of private sector and public private sector. newlineGovernments embarking on PPPs programs have typically developed new policy, legal and institutional frameworks to supply the specified structure and individual capacities. These transcend that required to originate and financially close PPP deals as they need to make sure that these deals are reasonable to users and the public sector provide ex-post analysis of the success of PPPs in meeting their objectives. This framework has to be in place in India to make sure a strong and successful PPPs program. newlineIn this study, chapter 1 gives an introduction to the public private partnership, rationale for PPP model, evolution of PPP and the studies reviewed is briefly summarised in form of review of literature. Chapter 2 explains the layout of the study and research methodology followed. It highlights the objectives, hypotheses, scope, methodology and limitations in context to the research work carried out. Chapter 3 summarizes the Public Private Partnership Policy at National level as well as on State level. Chapter 4 analyzes the collected data and tests the hypotheses on various parameters and draws the inferences. Chapter 5 concludes the study and suggests the road map for the Innovation and improvement of Public Private Partnership model and its mechanism for speedup economic growth and better delivery of service. newlineNo research is complete in itself. Now Public Private Partnership model is rapidly growing in many service areas to serve better to the public. So it opens up the new area for further research. newline newline