Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: form 3cd :: empanelment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: Central Excise rule to resale the machines to a new company :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment
 
 
« News Headlines »
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 most important income-tax changes which will apply from April 1
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return
 Will Aadhaar linkage solve India's income tax woes?
 GST roll out from July 1 will make goods cheaper: Jaitley
 Aadhaar To Be Mandatory For Filing Income Tax Return, PAN Application
 7 best tax-saving solutions which can help you save money
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 How to Make Tax Saving Investments Less Taxing with an SIP in ELSS

Finmin issues guidelines for PPP project approval
July, 31st 2007
The finance ministrys new scheme for hassle-free approval of public-private-partnership (PPP) projects in infrastructure came into effect last week, with the ministry notifying the guidelines in this regard.

According to these guidelines formulated by the department of economic affairs in the ministry, appraisal of PPP projects of all sectors costing more than Rs 100 crore but less than Rs 250 crore would now be considered by a two-member committee comprising the DEA secretary and the secretary of the ministry sponsoring the project. Earlier these projects were required to get the approval of the larger PPP-Appraisal Committee which meets less often and functions in an allegedly tedious manner.

Similarly, a two-member panel comprising the DEA secretary and the secretary, department of road transport and highways, will now appraise and approve the projects under the National Highways Development Project costing between Rs 250 crore and Rs 500 crore. These projects would also steer clear of PPP-AC. All these projects will, however, continue to require the nod of Cabinet Committee of Economic Affairs.

The bidding for the specified NHDP projects will be according to the procedure endorsed by PPP-AC. This includes the process of two-stage bidding, pre-bid qualification norms, etc.

This implies that in the first stage, NHAI could shortlist and pre-qualify bidders on the basis of the pre-bid qualification norms for inviting financial bids in the second stage. Of course, the modal concession agreement approved by the competent authority is being followed.

Prior to seeking the two-member panels nod, the projects will have to be appraised by the standing finance committee (SFC) and the request for proposals (RFP) would include a copy of all agreements that are proposed to be entered into with the successful bidder. After formulating the draft RFP, the administrative ministry would seek clearance of SFC.

The finance ministry has also spelt out definite timelines for the various stages of approval to cut delays.The liberal dispensation for approvals has been put in place for road projects in view of the fact that the present mechanism comprising PPP-AC and CCEA was found hampering implementation of the National Highways Development Programme.

Till about three months ago, NHAI was not able to award a single new build-operate-transfer (BOT) project as per the new Model Concession Agreement finalised as early as in March 2006. Phase III of NHDP, which is to be developed solely on a BOT basis, had been facing major delays. Of the 11,113 km of highways envisaged under Phase III, less than a quarter is under implementation.

Official sources said that a number of NHDP projects have received approvals in the past few weeks and this was expected to impart a fresh momentum to the projects.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions