A Real Solution to Bridge Gap in Infrastructure in India
To be on the path of development, we need to look forward towards innovative ways by adopting modern equipment-based technology to ensure expeditious growth of infrastructure. In this direction the public as well as private sector are trying to come up with all kind of innovative ideas, one of which is the Swiss challenge system.
The system has been successfully experimented in various countries and is now being used in India. The aim of this article is to analyze the working of Swiss challenge system, its functioning and its impact along with some inherent loopholes on countries including India.
Swizz Challenge Method as One of The Methods of Infrastructural Development:
There are various methods of Infrastructural Development in India and they are known as various investment models. Importantly there are two, which are popularly known as:
i. BOT (Build Operate Transfer) &
ii. EPC (Engineering, procurement and construction)
BOT is a model used to finance large projects, typically infrastructure projects developed through public private partnership. Here usually government grants a concession to a private company to finance, build and operate a project for 10 to 20 years then transfer the ownership to government. viz. 'Highway Toll Collection'. these are mostly TGreenfield projects.
EPC is a particular form of contracting arrangement used in some industries where the EPC contractor is made responsible for all activities from design, procurement, construction, commissioning and handover of the project to the end user or owner.
During a Budget Speech Finance Minister has Introduced Other Two Methods:
1. Hybrid Annuity Model
2. Swiss Challenge Model
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