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Secularism and anti-Hinduism Liberal imports idling indigenous capacities Poor representation for Kerala and TN in Cabinet A C Muthiah – his munificent bequeaths to science The few handicaps... Delhi Chalo... Music happens Come elections, come advertisements... Quality silica from Neyveli Where a state respects its litterateurs… TELANGANA at last…BUT Banning booze... Building loyalty through the stomach Tribute – UCAL Selvan… Lesson from Chandrababu Naidu Telangana in top gear… Insurance companies bleeding, yet no decision on increasing FDI limit! Modi storms Silicon Valley Tribute – Manikam Ramaswami Bihar elections - the Rajaji formula worked B H Kothari - a tribute Convulsions in The Hindu …and of a popular trade leader Recognition to role of NBFCs.... Online not in line with brick and mortar businesses... More tributes to GR Not just in-laws (and outlaws); they’ve renowned academics at the helm! When online building permits work…. CRS, a jewel among managers, is no more. Godspeed, Chief Minister JJ Gas is the way forward Don’t seem to feel the pulse… Welcome focus on core competence A Grand Finale for SN’s MS centenary at the US… West Bengal: mindless malignancy The ‘Ayyo-yes’ is no more The power-full Hindujas Where is Rajaji? Shaming of Tamils by Tamil farmers at Delhi Naidu’s return augurs well for Seemandhra Making ‘my Amaravati’... Land reclamation from sea appears cheaper! Poor quality of university VCs He continues the focus on social amelioration He saved millions from starvation... The why of tax incentives EVM is tamper-proof Fall in crude prices help in oil sector reform Silver Years of Madras Musings Streamlining mandatory third party cover Things happen by accident and not by design... Rs.1600 crore paper board plant of TNPL There was flood of milk. Reason: no milk commissioner! 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Naidu will soon build a new Hyderabad GNS - 100: our first subscriber A yen for wastage… Engineering seats go abegging Editor's Says Intellectual of rare qualities to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines Robber barons everywhere Kinetic Karnataka Editor's Notes Tough task taking states together When small is no larger beautiful.. Contrarian cousins Remembering Indira Sivasailam... Tihar, Puzhal not different from Parappana Agrahara Alexa – Talking Wikipedia Like Hinduism: many paths to reach God... Cement prices continue to rise… Solar thermal shines… Towards speedy justice Breaththrough in malaria control Rahman at CIC Adharma of opposition politics The rise and rise of KCP More Shakti to resource mobilisation... Shipping woes of Chennai companies Cleaning Ganga – relocate tanneries and install electric crematoria EEC at the National Media Centre For whom the bell tolls? Parliament in paralysis... L&T- the specialty of special purpose vehicles Should we change the official year? This scant respect for Law Mersal magnified The Swadeshi Trump Increasing non co-operation of state leaders Gay abandon in pricing The rise and fall of Annamalai University An inexplicable neglect Infrastructure funding – lessons learnt IPL type auction for VCs? TIAM turns a full cycle A friendly business group IAS invades NDDB... GM Technology at last! PPP mode for upgrading Corporation Hospitals Bihar – Nitish Kumar adopts the Lalu model A Grand Finale for SN’s MS centenary at the US… Which side are you, Montek? Adapt Vajpayee dinner diplomacy Five star activism stalls development activity More heat than light Put expensive assets created to use... Eternal support for capitalisation of PS banks Revving up the manufacturing sector Excel Generators provide the vital back-up No mega rail project for Tamil Nadu Padma Bhushan for A Ramakrishna Of course, Gujarat is vibrant A more liberated TN… A rich pool of talent not utilised…. When nations steal growth from one another… Polls and promises Roaring Ro-Ro facility Road development slows down Boy, can you beat these? Inflation: are we emulating Argentina and Brazil? An enemy’s enemy is a friend Fuel for thought Fortune 500 review Airlines in India: cost and space Discoms deserve better… Return to king coal for urea... S Ramanathan – a versatile musician, musicologist The brown list of Venkitaramanan Dr C Rangarajan returns to Chennai All eyes on Sankara Nethralaya Tribute Scientists urged to take up farmer-oriented research No Maha Koottani in TN... China invests in India Pharma – overdose of copying Shanti and Sadhana through Music Limit foreign borrowings to hi-tech, export potential projects... Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Welcome GST Valli, they are more marginalised The Ports’ Pasha expands into Tamil Nadu Align crops to agro climate endowments… L&T: focus on infrastructure and more infrastructure… Waning interest in public discussions… Noble nonagenarians... Welcome changes that testify to Jayalalithaa’s return to health Medical costs hit the roof... CII projects higher growth… Revive development banks... Demise of a media baron... Solar, solar everywhere … Another Indian music maestro at the UN Diamond jubilee of Egmore Samskrt School TN-leverage strength of BHEL, NLC... Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated Reliance’s TV – 18 ready to launch Tamil News Channel A welcome initiative by the judiciary F C Kohli - his concerns all embracing Protest masters... Cutting the nose to spite the face Auto components surge… Funding the un-funded Permanent secretariat for TN GIM Sweeter prospects for sugar Wanted: a second airport for Chennai Vibrant Gujarat A glass full of corruption Quality education through the PPP mode Tax agriculture WTO Meet: resolved to meet again Sri Lanka votes for change Delhi returns to BJP TN – agglomerate land holdings without alienating ownership Delhi is distant The sea- saw battle continues... Lalu’s envy, India’s pride Odisha: spectacular win by Naveen Patnaik The Jan Dhan bonanza Nuclear power at the nucleus Measuring roof tops in terms of KW/MW How Air-India loses customs... Computation of GDP – conundrums continue Focus on quality of power - its only around 170-180V Readers' Mail Multi-faceted Venkat A think tank for Chennai Tatas moving out of urea production... Paytm karo... Plummeting profits of PSBs Kudos to NDTV...
 
Infrastructure funding – lessons learnt

At the TN Global Investors Meet dozens of experts discussed in parallel sessions presided over by the state ministers/senior civil servants.

A media person had to contend with a major problem: since these were conducted in parallel, one had to hop from one hall to another to listen selectively  few specialists of one’s choice. The second problem related to the organiser’s presenting too many speakers, each given just five to ten minutes,  that left little time for interactions. One looks forward to the consolidation of the presentations in a book form.

I sat through the session on Enabling Mega Infrastructure projects. Planning & Development Secretary, S Krishnan, made a lucid presentation on the problems encountered by large Infrastructure projects. He threw light on the need for more thorough preparation of funding the projects adequately, as also to anticipate contingencies and developments that would demand higher volume of funding. These will have implications on the viability of the project and the repayment schedules of loans. Krishnan suggested providing for adequate viability gap funding.

The present crisis suffered by banks and other lenders has risen due to the failure on this score. The consequent reluctance of these financial institutions to fund infrastructure projects received attention in this session.

S B Nayar, CMD, India Infrastructure Finance Co Ltd. outlined several measures such as sale and lease back of assets and securitisation. Lack of attention to such details resulted in hundreds of vital projects announced by the UPA I and UPA II governments remaining non-starters. The ultra mega power project concept announced at the beginning of the UPA I regime which held great promise is a case in point. At the closing years of UPA II, Finance Minister P Chidambaram frequently mentioned of projects valued at over Rs 700,000 crore getting stuck for various reasons.

K Venkatesh, MD, L&T Infrastructure Development Projects, pointed to yet another problem: the difficulty of concessionaries to realise fully the promise of toll collections in many of the BOT projects. Venkatesh  also referred to two other issues, of an effective disputes resolution mechanism and the difficulty of settlement of dues. The judicial system and mechanism for settlement outside the traditional legal system both need to be tuned up to deliver quick decisions.

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