The increasing choice of public private partnerships (PPPs) in infrastructure projects is due to its inherent promise to create value for money (VfM) by providing timely and improved quality of services cost effectively. This article makes an attempt to assess the performance of four national highways (NH) PPP projects in the State of Karnataka. Framework for the evaluation of the projects under review includes time overrun analysis, risk responsibility matrix, and estimation of both quantitative and qualitative VfM, that is, the financial savings to the government and road users. The study finds that the Projects 1, 3, and 4 under review created positive VfM to government (financial savings) to the tune of Rs. 1,040 crore. VfM has also been observed to be positive to the road users by way of average reduction in travel time, saving of fuel, consistency in reaching the destination, and so on. The article also provides suggestions to tone up the PPP policy of India.
Fiscal deficit and inflation are the two major macroeconomic problems confronting the Indian economy. Although it had manifested in various degrees earlier, these problems escalated after the recent global financial crisis. It has always been criticized that fiscal deficit will adversely impact the level of inflation. This critique has been proved and validated by many existing studies in the context of India. This paper strives to track the channels of transmission through which fiscal deficit has passed on and impacted the level of inflation in India. Based on theoretical and empirical literature, this study identifies four transmission channels, namely consumption expenditure channel, money supply channel, import channel and interest rate channel. By adopting structural vector autoregression model, it has been found that the fiscal deficit transmission mechanism is clearly evident with regard to consumption channel, money supply channel and import channel but not the interest rate channel.
This article attempts to document the status of environmental fiscal instruments (EFIs) so as to explore relevant international experiences on ecotaxes in the context of India and to examine India’s specificities in these taxes within a wider perspective of other fiscal measures. Environmental levies across 15 countries were reviewed and the countries categorised are into two groups: Annex II and Non-Annex I. The revenues from levies imposed in the countries were also analysed. The most common form of taxes in Annex II countries in the form of energy taxes, followed by transport taxes. For India, energy and transport taxes could prove to be vital types of ecotaxes for addressing issues of climate change. Pollution taxes are difficult to levy for administrative reasons, but resource taxes are imperative because of severe environmental problems associated with mining and related activities. The revenue generated from environmental taxes and charges for all Annex II countries hovered between 2 and 4 per cent of their respective GDPs, except for Canada and the United States of America, whereas for Non-Annex I nations, this ranged only between 0 and 1 per cent. JEL Classification: H23, Q50, Q58
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