Stock Market

PPP dispute resolution Bill likely in monsoon session: Das

PPP dispute resolution Bill likely in monsoon session: Das

The government is planning to introduce a Bill for speedier resolution of disputes in PPP projects in the monsoon session of Parliament as part of its efforts to improve ease of doing business, Economic Affairs Secretary Shaktikanta Das said today.

“The Public Utility Dispute Resolution Bill will come in the monsoon session (of Parliament),” he said on the sidelines of ADB annual meet here.

The Budget 2016-17 had proposed a Public Utility (Resolution of Disputes) Bill to streamline institutional arrangements for resolution of disputes in infrastructure related construction contracts, PPP (Public-Private Partnership) and public utility contracts.

The draft is ready, he said, adding that it would be the endeavour of the government to push it with a view to improving ease of doing business.

The enactment of the public utility Bill will provide a legal framework for speedier resolution of disputes in PPP projects.

The new law will deal with construction and PPP contracts or any other which involves a public utility authority and a private contractor.

On the Goods and Services Tax (GST), Das said efforts of the government will be to get it passed in the current session of Parliament.

The current session of Parliament is scheduled to end on May 13.

Yesterday, Das had a bilateral meeting with Afghan finance minister and discussed strategic economic partnership and role being played by India.

“We had broad review of the assistance to Afghanistan,” he said. India has announced USD 2 billion assistance to Afghanistan.