Independent MP Rajeev Chandrasekhar today stressed the importance of a more transparent and responsive governance model. Speaking in the Parliament,he said there was an immediate need to correct the dysfunctional governance and Private-Public Partnership (PPP) model,highlighting the risk it posed to long-term FDI and capital inflow to the economy. The focus must move to strengthening the institutions of governance the administrative machinery,the regulators,the judicial capacity and efficiency, said Chandrashekhar. Over the last few decades,while India has developed tremendously,the state capacity has lagged significantly. We need both private entepreneurship and efficient governance as two critical elements of the long-term equation of growth. To change the rhetoric of an Indian super economy into a reality there was a need to reform subsidy delivery and the concept of independent regulators,he said. Also,he stressed,there was a need to rethink PPPs in a manner that would benefit the public half of such projects.
