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A rapid increase in land and property values has been one of the driving forces of urban ecosystem development in many countries. This phenomenon has presented project proponents/policymakers with multiple options and associated challenges, nudging them to configure or incorporate elements of land-based financing in their policies and legislations. Specifically, the Government of India and various state governments have sought to monetize land through diverse instruments, for augmenting the financial viability of infrastructure and area development projects. This paper compares Indian central and state infrastructure policies/ acts with regard to land monetization strategies. The analysis indicates that policies and legislations are taking a turn towards promoting land monetization mechanisms as a financing tool for cities and project implementation agencies. However, the approach is cautiously used and implementation is often seen to fall behind actual project timelines. Based on the findings, key determinants of a successful policy that captures an increase in land values, are identified. The learnings provide useful inputs for states to strengthen their policy documents and legislative/institutional frameworks, for ensuring the effectiveness of land-based financing tools.
Raghu Tirumala; Piyush Tiwari. Land-Based Financing Elements in Infrastructure Policy Formulation: A Case of India. Land 2021, 10, 133 .
AMA StyleRaghu Tirumala, Piyush Tiwari. Land-Based Financing Elements in Infrastructure Policy Formulation: A Case of India. Land. 2021; 10 (2):133.
Chicago/Turabian StyleRaghu Tirumala; Piyush Tiwari. 2021. "Land-Based Financing Elements in Infrastructure Policy Formulation: A Case of India." Land 10, no. 2: 133.
Over the last three decades, public–private partnership projects have emerged as strong alternative service delivery mechanisms to conventional public sector initiatives. The results, however, have been a mix of failures and successes. The determinants of success and failure of such arrangements have generated much interest among stakeholders and the research community, but the combinations of factors that influence the success of public–private partnership projects are relatively less researched. This article investigates the relationships among the complex factors that influence the success of such arrangements, using urban drinking water projects in India as an example. Eighteen projects were selected for the study and 11 factors affecting the project outcome (causal conditions) were identified based on the literature review. Fuzzy set qualitative comparative analysis was conducted to understand which combinations of causal conditions potentially influence the outcome of a public–private partnership project. The analysis identified five causal solutions comprising seven to nine causal conditions each. Defining service standards in a manner that is amenable to measurement and public disclosure emerged as a necessary condition. Two causal solutions presented themselves with capacity of the public sector, and its consequent outputs, as a primary theme. Two other solutions have elements relating to appropriate project structure and baseline information as the key causal conditions. These causal solutions indicate the interrelationship between various factors that influence project performance and provide pointers for project proponents to focus on the causal conditions over which they have relatively better control, when configuring public–private partnership projects.
Venkata Raghu Rama Swamy Dharmapuri Tirumala; Piyush Tiwari; Anil Sawhney; Krishnan Kodumudi Pranatharthiharan. Analyzing Configurational Paths for Successful PPPs in Indian Urban Drinking Water Sector. Journal of Infrastructure Systems 2020, 26, 04020023 .
AMA StyleVenkata Raghu Rama Swamy Dharmapuri Tirumala, Piyush Tiwari, Anil Sawhney, Krishnan Kodumudi Pranatharthiharan. Analyzing Configurational Paths for Successful PPPs in Indian Urban Drinking Water Sector. Journal of Infrastructure Systems. 2020; 26 (3):04020023.
Chicago/Turabian StyleVenkata Raghu Rama Swamy Dharmapuri Tirumala; Piyush Tiwari; Anil Sawhney; Krishnan Kodumudi Pranatharthiharan. 2020. "Analyzing Configurational Paths for Successful PPPs in Indian Urban Drinking Water Sector." Journal of Infrastructure Systems 26, no. 3: 04020023.
Investments flowing into blue economy projects are estimated to be much lesser than the requirements, for achieving the targets set out in the UN Sustainable Development Goals. Blue economy projects are typically financed through conventional means of public and development finance. However, the nature and characteristics of blue economy projects transcend the need to extend beyond the conventional financing options of multilateral/bilateral aid. The objective of this article is to assess if the existing blue economy initiatives are adequate to the sectoral investment needs and to develop contours of a framework that could accelerate the blue economy investments. The research finds that the current initiatives such as blue bonds are relatively small and accelerating investments requires access to additional financing instruments and a transformative change in participating stakeholders. Using a Theory of Change approach, contours of a framework that pools in low-cost funds from a diverse set of investors to be deployed for either public sector promoted large impact projects or individual blue economy projects through market-based instruments are suggested. The findings contribute to the ongoing debate on how to improve the financial capability of various blue economy stakeholders and enable them to configure more sustainable financing mechanisms.
Raghu Dharmapuri Tirumala; Piyush Tiwari. Innovative financing mechanism for blue economy projects. Marine Policy 2020, 104194 .
AMA StyleRaghu Dharmapuri Tirumala, Piyush Tiwari. Innovative financing mechanism for blue economy projects. Marine Policy. 2020; ():104194.
Chicago/Turabian StyleRaghu Dharmapuri Tirumala; Piyush Tiwari. 2020. "Innovative financing mechanism for blue economy projects." Marine Policy , no. : 104194.