Amongst the recommendations made are: • Establishment of 3P India. • Case based risk allocation formula for various project participants. • Establishment of independent regulating agencies. • An amendment in the Prevention of corruption act to differentiate between errors of judgement and willful corrupt practices. • Use the PPP model for airport, port and railway projects. • Banks and other financial institutions be allowed to issue
zero-coupon bonds. • The number of banks in a consortium be restricted. • Banks develop improved capabilities for risk assessment and appraisal. • Specific guidelines for encashment of
bank guarantees. • To provide for monetisation of completed projects. • Create a procedure to resume stuck projects. • PPP should only be used for large projects. • Creation of an inbuilt mechanism for renegotiation. • Model concession agreements in various sectors be reviewed. • The public sector undertakings be dissuaded from participating in PPP • Road toll be collected electronically • Constitution of an Infrastructure PPP Project Review Committee (IPRC) comprising an expert in finance and economics, law, and at least one related technocrat with not less than 15 years experience. • Constitution of an Infrastructure PPP Adjudication Tribunal (IPAT) headed by a former Supreme Court/ High Court Judge with at a minimum of one technical and financial expert each as members. == References ==