India's experience with revenue-share model is not good. How to fix it?

The Centre is only just learning how to draft workable contracts with the private sector

The Railways have asked for bids from private entities to offer passenger services on a revenue-share basis. Public-private partnerships (PPPs) are not rare in India — in fact, the World Bank data base shows that India is the global leader where PPP is concerned. But railway passenger travel is for many Indians the most visible expression of government ownership.
 

Yet to spur investment, the Narendra Modi government has had to offer private sector participation in this business. The scope for raising revenue from taxes and non-tax sources has been crimped by Covid-19 and the pre-pandemic slowdown. Revenue-share arrangements between the