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Ask an Expert - Infrastructure

Vikash Kumar Sharda

Director (Capital Projects and Infrastructure), PwC India)

Topic: Infrastructure

Highway is one of the major sub-sectors within infrastructure that contributes 15-20 per cent of total investment in infra. Given a drop in private participation in the past two-three years, there seems to be a revival in interest from private players in the public-private partnership (PPP) model, because of some reform measures taken by the ministry in the past year. The hybrid annuity model will largely be adopted under PPP procurement but the engineering, procurement and construction and (EPC) route is likely to account for a major share of procurement in the near future. This Budget should double the allocation for this sector and halve the minimum alternate tax to around 10 per cent.

What is the coming Budget expected to do for the agricultural Sector?


Experts have opined that the government should look into tax issues in relation to infra investment trusts. What can the government do in the current Budget to address this issue?


InvIT was introduced in Budget 2013 and subsequently the Securities and Ecxchange Board of India issued final regulations on September 26, 2014. There is an issue with respect to tax implication on income to be received by an investor in InvIT. However, there is an expectation from this Budget to bring out some solution/clarification on the same to make InvIT an attractive source of finance.

Should the government bite the bullet on fiscal deficit and go full steam with public expenditure in the infrastructure sector, especially when the private sector still appears to be dealing with delays and stuck projects?


Infrastructure is a key to economic growth. And infra investment’s proportion in GDP has come down over the past few years due to a sluggish private sector investment. Therefore, the government might have to consider higher public-sector spending on infra, considering current issues of financing with developer and banker. This might, however, have some impact on the fiscal space.