Proposed road regulator likely to be a three-member body
New Delhi: The proposed Road Regulatory Authority, to be constituted for easing financial stress, construction risk and contract management in the sector, is likely to be a three-member body with a Chairman and two members.
The Ministry of Road Transport and Highways, which will begin the round of meetings to prepare a fine print on the proposed road regulator soon, is likely to suggest setting up of a three-member body in the form of regulatory authority.
A panel comprising representatives from Road Ministry, Finance Ministry, Law Ministry and Planning Commission will deliberate on the matter and is likely to finalise the proposal in three months.
"The (first) meeting is expected by the end of this month and hopefully the proposal will be finalised in three months," a Road Ministry official said.
Once the proposal is finalised by the panel, a Cabinet note will be prepared and circulated to various ministries for their comments and based on those comments it would be sent to the Cabinet for approval.
"It is a long process and will take time, by the end of this year hopefully we would be able to do it," the official said.
Finance Minister P Chidambaram had announced setting up of a regulator in the road sector during his Budget (2013-14) speech.
He had said that the road construction sector has reached a certain level of maturity but it faces challenges, including financial stress, enhanced construction risk and contract management and that these issues are best addressed by an independent authority.
The key functions of the proposed regulator are likely to include tariff setting, service quality, assessment of concessionaire claims, collection and dissemination of sector information, service-level benchmarks and monitoring compliance of concession agreements.
Road Ministry is of the view that regulation would improve the quality of road projects in the country.
More from India
More from World
More from Sports
More from Entertaiment
- I eat beef, can somebody stop me?: Kiren Rijiju hits back at Naqvi
- Delhi: Visually impaired boy scores 91.4% in CBSE 12th Board exams
- MP: 14-year-old boy works as bonded labour since 2009
- UP: Man chops off wife's nose, hair for dowry
- Zee Media Exclusive: The plight of yoga expert Tejaswi Sharma
- Woman denied flat in Mumbai for being a Muslim
- 4 Indians in Forbes' 100 most powerful women list
- Heat ave continues in India, death toll climbs to over 1,400
- Gujjar stir: HC asks Rajasthan govt to clear rail track, roads
- Megastar Amitabh Bachchan slapped with Rs 1 crore notice
- Kenyan lawyer offers to marry Barack Obama's daughter Malia
- Gujjar stir: HC asks Rajasthan govt to clear rail track, roads- Part II
- AIB: The 'Third Gender's right to dignity'
- Maggi likely to face ban in India!
- Salman Khan accident files burnt in Mantralaya fire
- CBSE Class 10 Board Result 2015 to be announced today
- Check mahresult.nic.in for MSBSHSE Maharashtra Class 12 HSC Result 2015
- CBSE Class 10 Board Result 2015 (cbse.nic.in, cbseresults.nic.in) postponed?
- Maharashtra MSBSHSE HSC Result 2015 on mahresult.nic.in
- I was misquoted, says Kiren Rijiju on 'beef' remark
- First look: Salman Khan steals thunder in `Bajrangi Bhaijaan`
- mahresult.nic.in updated with MSBSHSE Maharashtra HSC Class XII Result 2015
- Check cbse.nic.in, cbseresults.nic.in for CBSE Class 10 Result 2015
- Manmohan Singh defends himself on 2G charge, slams Modi govt for 'carbon copy' schemes
- Sonia Gandhi 'unconstitutional authority' during UPA: PM Narendra Modi
- CBSE Class 10 (Class X Board) Result 2015 on cbse.nic.in, cbseresults.nic.in at 2 pm
- Hours after attacking NDA govt, Manmohan Singh meets PM Narendra Modi
- Reservation stir: Five percent job quota to Gujjars unlikely, hints Rajasthan govt
- PMO website revamped, now send e-mail to PM Modi directly
- Death toll climbs to over 1400 as intense heatwave continues in India