Public Private Partnerships as a Sustainable Strategy for Infrastructure Development: A Case of india
A sustainable strategy is one which takes into consideration the present needs without compromising on the future needs.Infrastructure is considered as the key sector in the economic development of any nation whether developed or developing.Infrastructure is not only a by-product of growth, but can also be an important driver of economic development.Investing on infrastructure can be sustainable for the economy as in the short run, it can create jobs and growth in the local economy.In the long run, it enhances productivity of an economy, increases private capital formation as marginal productivity of inputs increases and declining transaction costs.Infrastructure projects need huge investments in terms of capital, technology, management etc.The funding of these projects entirely by government may not be possible always because of severe budget constraints, global financial crisis, technological and managerial limitations.The reforms in the 1990s, have popularized new public management, neo-liberalism and good governance initiatives by the world bank and other international agencies.The impact of 2007 global financial crisis has led to the alternatives to finance the infrastructure projects in both developed and developing countries.This process has led to the rise of Private-Public Partnerships as a sustainable strategy for investing in infrastructure projects.Public-Private Partnerships are partnerships between public and private agencies through a long term contract.Public-Private Partnerships are proving to be sustainable aiming to bring in the best of both worlds, Public and Private.While, private agencies bring in the necessary finances, technological and managerial skills with them, the public agencies facilitate all the necessary permissions, bureaucratic procedures, government clearances and most importantly,public responsibility for the successful completion of any project.The growing acceptance of Public-Private Partnerships proves their significance in overall socio-economic development of the economy.The present paper focuses briefly on how Public-Private Partnerships have evolved in India in infrastructure sector, the rationale for Public-Private Partnerships in India, benefits of Public-Private Partnerships, challenges before Public-Private Partnerships with emphasis on PPP in development of airports in India.
Infrastructure Public-private partnership Sustainability New public management Good governance Economic development
Ravinder Kaur G Prashanthi
Department of Public Administration,Osmania University,Hyderabad,India,500007
国际会议
2015 International Conference on Public Administration (11 th)2015(第十一届)公共管理国际会议
印度尼西亚
英文
108-114
2015-12-09（万方平台首次上网日期，不代表论文的发表时间）