The Maharashtra Infrastructure Development and Support (MIDAS) Act, a draft proposal of which was released today by chief minister Vilasrao Deshmukh is intended towards achieving a 10 per cent gross domestic product (GDP) growth and quadrupling the state per capital income by 2010.
"The government is committed to play the role of a facilitator and promote infrastructure development using the route of private sector participation. Once a consensus is reached on the draft proposal, the state will ensure that it is cleared immediately by the Cabinet and an ordinance is issued by the governor's office," Deshmukh said.
Former telecom adviser to the Union government Sam Pitroda in his address, while complimenting the state's endeavour to flesh out the policy, said that: "There was a need to draw upon the Chinese experience and set high standards, ensure speedy execution of projects and focus on brining about generational and not incremental changes."
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IDFC managing director Naseer Munjee said the Act needed to focus on strategy, policy and implementation. "It should place greater emphasis on micro-management and look at the de-risking process in order to attract investments," he added.
The Maharashtra Economic Development Council has been identified as the nodal agency to organise a infrastructure summit in November where the new investor friendly policy framework backed by sector specific policies and the infrastructure act would be unveiled.