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…and of a popular trade leader Wanted: a second airport for Chennai Make standards certification mandatory... He saved millions from starvation... Like Hinduism: many paths to reach God... The why of tax incentives The few handicaps... Revive development banks... MHC should not return to its old indisciplined ways When nations steal growth from one another… Welcome GST A yen for wastage… Delhi returns to BJP PC’s preference for professionals An informal presentation - analytical, forward locking... L&T- the specialty of special purpose vehicles Streamlining mandatory third party cover A Grand Finale for SN’s MS centenary at the US… 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 Towards speedy justice Protest masters... Sri Lanka votes for change Where a state respects its litterateurs… Welcome changes that testify to Jayalalithaa’s return to health Insurance companies bleeding, yet no decision on increasing FDI limit! CII projects higher growth… When online building permits work…. Maximising the micro pricing … Sweeter prospects for sugar GNS - 100: our first subscriber Readers' Mail Padma Bhushan for A Ramakrishna More Shakthi to Das’ elbow Tribute – Manikam Ramaswami Valli, they are more marginalised Computation of GDP – conundrums continue There was flood of milk. Reason: no milk commissioner! Odisha: spectacular win by Naveen Patnaik Shipping woes of Chennai companies Noble nonagenarians... Engineering seats go abegging When Ratan Tata visited SRM A proud Madrasi Five star activism stalls development activity More tributes to GR TGS- The king storyteller More Shakti to resource mobilisation... Small units prefers to remain small... Medical costs hit the roof... When TN politicians can emulate Kerala's When small is no larger beautiful.. Alexa – Talking Wikipedia Tatas moving out of urea production... Editor's Says Naidu’s return augurs well for Seemandhra Tribute – UCAL Selvan… No mega rail project for Tamil Nadu Limit foreign borrowings to hi-tech, export potential projects... The Gulf aviation boom Measuring roof tops in terms of KW/MW Quality education through the PPP mode Welcome thrust on trade in Modi’s foreign visits... R Sridhar steps down as CEO of Shriram Capital Nuclear power at the nucleus The brown list of Venkitaramanan A glass full of corruption Inflation: are we emulating Argentina and Brazil? A more liberated TN… Tribute The power-full Hindujas Editor's Notes Robber barons everywhere Parliament in paralysis... Poor quality of university VCs Breaththrough in malaria control Mu Sigma – is no more Naidu will soon build a new Hyderabad A C Muthiah – his munificent bequeaths to science Banning booze... For whom the bell tolls? 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No engine for this car Tax agriculture A welcome initiative by the judiciary S V Raju – a ‘good’ true liberal Scientists urged to take up farmer-oriented research Solar thermal shines… The sea- saw battle continues... Poor representation for Kerala and TN in Cabinet Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated Things happen by accident and not by design... Don’t seem to feel the pulse… The Ports’ Pasha expands into Tamil Nadu A think tank for Chennai Lesson from Chandrababu Naidu All eyes on Sankara Nethralaya Intellectual of rare qualities WTO Meet: resolved to meet again This scant respect for Law B H Kothari - a tribute Moily’s bold thrust Kudos to NDTV... Secularism and anti-Hinduism Tough task taking states together Waning interest in public discussions… Kinetic Karnataka Multi-faceted Venkat Air Asia India will set new benchmarks for budget travel Excel Generators provide the vital back-up Fortune 500 review When the President was rendered homeless… Infrastructure funding – lessons learnt Adharma of opposition politics F C Kohli - his concerns all embracing Reliance’s TV – 18 ready to launch Tamil News Channel An enemy’s enemy is a friend A friendly business group Fuel for thought Focus on quality of power - its only around 170-180V Of course, Gujarat is vibrant Modi storms Silicon Valley L&T: focus on infrastructure and more infrastructure… Not just in-laws (and outlaws); they’ve renowned academics at the helm! Shanti and Sadhana through Music Permanent secretariat for TN GIM Strengthen the base... West Bengal: mindless malignancy Which side are you, Montek? The rise and rise of KCP Build close rapport with business leaders Bihar – Nitish Kumar adopts the Lalu model Funding the un-funded Making ‘my Amaravati’... Shale gas and its shallow future EEC at the National Media Centre Convulsions in The Hindu Eternal support for capitalisation of PS banks Polls and promises Tribute – M V Murugappan No Maha Koottani in TN... Boy, can you beat these? TIAM turns a full cycle Bihar elections - the Rajaji formula worked Preserving for the future London, London Narayan A professional at the helm of IRDA... Diamond jubilee of Egmore Samskrt School Another Indian music maestro at the UN Come elections, come advertisements... Return to king coal for urea... Rs.1600 crore paper board plant of TNPL EVM is tamper-proof The Swadeshi Trump TN-leverage strength of BHEL, NLC... The balancing act Gas is the way forward Cleaning Ganga – relocate tanneries and install electric crematoria TN – agglomerate land holdings without alienating ownership Discoms deserve better… Russi Mody – a tribute Marketing expert Balagopal is no more Sweet news for TN sugar mills Colour-Chem’s colourful KRVS Plummeting profits of PSBs New IT products of Ramco in the pipeline… An inexplicable neglect Recognition to role of NBFCs.... Cutting the nose to spite the face Tatas moving out of urea production... How Air-India loses customs... Tihar, Puzhal not different from Parappana Agrahara Online not in line with brick and mortar businesses... Haul over the coal The Jan Dhan bonanza Delhi is distant Paytm karo... PPP mode for upgrading Corporation Hospitals Lalu’s envy, India’s pride The ‘Jayanthi Tax.’ Shaming of Tamils by Tamil farmers at Delhi Quality silica from Neyveli Vibrant Gujarat Put expensive assets created to use... Roaring Ro-Ro facility Silver Years of Madras Musings Auto components surge… Gay abandon in pricing Demise of a media baron... The rise and fall of Annamalai University Dr C Rangarajan returns to Chennai Cement prices continue to rise… TN accounts for the largest recruits by the IT sector China invests in India CSR and CMI: promise of another Srinivasan Ramanujan... Pharma – overdose of copying Adapt Vajpayee dinner diplomacy Godspeed, Chief Minister JJ For whom the MIDS bell tolls? Contrarian cousins Liberal imports idling indigenous capacities Land reclamation from sea appears cheaper! The nuclear option He continues the focus on social amelioration Wise Presidents Building loyalty through the stomach Align crops to agro climate endowments… Road development slows down TELANGANA at last…BUT A rich pool of talent not utilised…. Fall in crude prices help in oil sector reform Should we change the official year?
 
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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