It’s hot in India now
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August
Apprentice
Joined: 26 Feb 2008
Posts: 1
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 Posted: 02/26/08 - 09:03 Post subject: It’s hot in India now |
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Over the past twenty-five years a developing country like India has been transformed from a world of rural villages into cities and towns teeming with a vibrant population. The local governments along with the numerous Non Governmental Organizations (NGOs) have been making serious efforts to improve the efficiency and responsiveness of urban services delivery in the Indian cities. However the numerous Bank-financed urban projects have typically comprised of a mixture of physical investments and measures to strengthen the municipal institutional capacity.
Since the mid-1970, countries like India had to face a global economic environment characterized by recession, inflation, protectionism, falling commodity prices, and a growing debt burden. However global recession and the debt crisis provided an unprecedented opportunity to innovate with various innovative policy prescriptions.
The constant theme in the government development programmes instituted then was in greater efficiency in resource use, mainly in public sector management and in providing social services. This required an appropriate policy and administrative framework involving increased private sector participation in the services economy and thus heralded private participation in India Property development. In fact, since the 1980’s all governmental policy decisions emphasized on private sector participation in national development.
In India, the necessity for private sector involvement has arisen not only due to numerous external situations but internal pressures as well. The latter are due to local governments’ inability to provide urban services, housing and infrastructural facilities adequately mainly because of dwindling financial resources and increasing population pressure. |
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