Kerala 3 of 12

Big roads and bypasses to be taken up as joint ventures with resident and non-resident investors, Public Works Minister says

Public Works Minister P.K. Basheer said Kerala needs a development policy built on private and co-operative participation rather than on government funds alone. He said large roads and bypasses are to be funded through joint-venture projects with investors in Kerala and non-resident Malayali investors. He also said a special revenue wing is under consideration under the Public Works Department to speed up land acquisition. He was speaking at the State Planning Board's district idea-formulation meeting in Malappuram. The Planning Board intends to complete such meetings in all 14 districts by mid-December before finalising the new development document.

District meetings to be completed by: Mid-December Districts covered: 14
Why it matters for exams: The financing model a state chooses for roads is a recurring question on public private partnership and state finance.
Kerala PSCUPSC

In plain words

Joint venture Joint venture project — A project in which the government and private or co-operative investors together put in capital and share the returns.

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