A policy should be a charter that enunciates the principles of goal-setting, sets out the framework for achieving
targeted objectives and, thereby, brings about economic performance. Policy-making in India, since the mid-1970s,
has been a short-sighted exercise, not free of the influences of the vicissitudes of political expediency. Rarely have
policies been market-friendly.
The mandate to review the Infrastructure Policy of the Government of Karnataka presented the first opportunity
to iDeCK (Infrastructure Development Corporation of Karnataka) to create policies and measures that are incentivecompatible and have economic and market logic, and draw little administrative energies. The policy was first announced in 1997 with the principal objective of encouraging privatesector participation in infrastructure development. Similar policy measures in other sectors such as tourism, ports, roads, IT, and power were also separately announced around the same period, setting out briefly the government's agenda in incentivizing private-sector investments in various planned and envisaged sectoral development initiatives. What was particularly apparent in infrastructure policy, was the need to delineate a framework for operationalizing suitable public-private partnerships (PPP) and the process that government would largely adopt for leveraging private finance initiatives.
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