Articles by Kumar V Pratap

Good quality infrastructure services have to be paid for, either by the users as user charges or by the government through explicit subsidies. The recent dismantling of toll booths in the country is increasing the political and regulatory risks in public-private partnership projects, as user fees as a revenue source dry up and there is no commensurate increase in government subsidy.

The latest public-private partnership project to fall through, the Delhi Airport Metro Express, brings to light fl aws in the concession agreement between the public and private parties. Improper risk sharing and aggressive bidding, coupled with the application of the jugaad principle, have led to contractual disputes resulting in the cancellation of the partnership.