Government was not able to utilise the funds earmarked for 3P-India in 2014-15 as the entity to speed up the Public-Private-Partnership mode for projects had not been established.
“The setting up of the 3P-India is under consideration. Funds earmarked in the 2014-15 budget for 3P-India could not be utilised as the proposed entity was not established during that financial year”, Minister of State for Finance Jayant Sinha said in a written reply in Rajya Sabha.
Finance Minister Arun Jaitley had announced Rs 500-crore 3P-India in the Budget 2014-15. The institution aims to facilitate nuanced and sophisticated models of contracting and developing quick dispute redressal mechanism for the PPP mode of projects in the country, Jaitley had said.
In reply to a question whether the Government has reviewed the recommendations of the Kelkar panel on PPP and the actions contemplated, he said the report of the Committee is in the public domain. “The Committee Report. Included recommendations for action by Central and State Governments, financial institutions, private sector (industry and consultancy services”, Sinha said.