The Government planned to begin a Road Project. The Government needed management specialists and financial help to complete it. The Government contacted the private sector to fulfil this requirement. Now, this project enterprise and state its importance.
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Correct Answer - (a) Public Private Partnership (PPP)
This type of enterprise in speeding up projects, and completing them in the minimum time period.
(b) Features:
(i) `underline("Pertaining to high priority projects:")` : PPP pertains to high priority that are aimed at creating public goods like inthe infrastructure sector.
(ii) `underline("Suitable for big projects (Capital Intensive and Heavy Industries):" )` PPP is suitable for big projects whose gestation period is very long.
(iii) `underline("Public welfare:")` PPP is used in the government projects targeted at public welfare, e.g. Delhi Metro Railway Corporation.