Regulatory requirements for Treasury markets may need to change over time to reflect a rapidly evolving market environment. Markets will adapt to new regulation and other developments. We all have a responsibility to make sure that market and regulatory incentives appropriately encourage an evolution that will enhance market liquidity and functioning.
Despite the emphasis placed on PPP in the Plan Documents, the private sector response to infrastructure development in India has been lukewarm for a number of reasons, e.g., overlapping regulatory jurisdiction, improper design, appraisal and risk allocation mechanism under PPP, bidding transparency issues, project costs and time overruns considerations, etc.