08 NOV,2020 | MEDC
Project delays (especially in the key infrastructure sector) are an unfortunate fact of India’s growth story and an importantfactor responsible for limiting our global economic competitiveness. The most commonly cited reasons include land acquisition and green clearances. What makes the high delay percentage particularly disconcerting in today’s Covid times, is that most of these are the very projects required to stimulate both the supply and the demand sides of the economy, and thus, spur the growth process. Shoddy project management points essentially to a governance deficit, which the pandemic may have exacerbated. The need of the hour is a transparent budgeting process that will essentially resolve payment delays faced by several private sector vendors of government infrastructure projects, which are meant to revive economic growth. Many private companies are unwilling to engage with their public sector counterparts due to payment delays. They need to be reassured that the government now means business.
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