The Union government led by Prime Minister Narendra Modi clearly recognises the urgent need for seriously stepping up infrastructure investments to facilitate employment and create a sustainable frame work for future growth. Two successive union budgets have been significant increases in the government’s allocations for infrastructure. The new arbitration process under the Arbitration and Concillation (Amendment) Act, 2015, has created a better playing field for outstanding claims settlement in India. While the benefits of the new law have not yet fully come into play, we expect these to flow in from FY2018 and thereafter.
Annual Report 2016-17