INTERVIEW-Delhi metro shows the way for India infrastructure
By Matthias Williams
NEW DELHI, July 3 (Reuters) - India's efforts to build badly needed infrastructure will get a boost from the ruling Congress party's strong mandate for reform, but the country needs sweeping changes in how it implements projects, Delhi's metro chief said. The capital's shiny metro system, built ahead of schedule and within budget, is a rare example of how big construction projects can be efficiently completed in India to spur its economic rise, but bureaucratic meddling makes its success hard to copy.
Led by the understated Elattuvalapil Sreedharan, a 77-year-old civil engineer, the subway enjoys strong government support and is not shackled by the delays, cost-overruns and red tape that have plagued big projects in India for decades.
Despite the Delhi metro's success, Sreedharan said India lags far behind Asia's other emerging economic giant, China, in fast implementation, often because of New Delhi's short-sighted planning, a lack of political will and government interference.
"That vision or determination that things should move fast, that's not available in our country," he said in an interview. "Unfortunately what is happening is that everybody wants to control things. Nobody wants to take responsibility."
But times may be changing. The Congress party won a decisive election victory in May and reaped a strong mandate to push economic reforms, even as it emphasises inclusive growth.
"It will definitely make a difference. There will really be a good push towards infrastructure projects," said Sreedharan, who is the managing director of the Delhi Metro Rail Corp.
"Only thing is the implementation style has to change. You see with the present implementation style, the government will not be able to achieve much."
The government will unveil its budget for the current fiscal year on Monday, with investors hoping it takes steps to accelerate development of infrastructure in a country plagued by inadequate transport and power. Continued...
Economy seen growing at 7.2 pct in FY10 - govt
The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget. Full Article
AIDING GREECE
Eurozone agree in principle to aid Greece - source
Euro zone countries decide to help debt-stricken Greece. Full Article | Video




India
US
UK






