Budget '10 should focus on governance issue: Atul Punj

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Budget '10 should focus on governance issue: Atul Punj

In an interview with CNBC-TV18, Atul Punj, Punj Lloyd, speaks about his expectation from the Budget and also talks about the government's performance in the last year.

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Atul Punj has worked tirelessly for over two decades to convert Punj Lloyd into a USD 2.5 billion diversified engineering conglomerate. As India moves towards bridging its infrastructure deficit, corporates like Punj will play a crucial part.

In an interview with CNBC-TV18, Atul Punj, Punj Lloyd, speaks about his expectations from the Budget and also talks about the government's performance in the last year.

Here is a verbatim transcript of the exclusive interview with Atul Punj on CNBC-TV18. Also watch the accompanying video.

Q: We are doing a look back at the year that was since the last budget, infrastructure, a lot was looked at from the Finance Minister, not much happened outside of the IIFCL, take out financing scheme, allocations as far as Jawaharlal Nehru National Urban Renewal Mission (JNNURM) was concerned, Bharat Nirman, the Urban-rural housing scheme and so on and so forth. But from an infrastructure point of view, are you satisfied or there have been more misses than hits?

A: I am extremely satisfied as the way the whole sector has gone. I think the public expectation was that immediately post the budget that suddenly we would be seeing 20 kilometers of roads a day for example.

Q: That was never a realistic target?

A: No, it is the realistic target, but there is a time to be able to get there. Now, if you look at this sequence of operations firstly at the model concession agreement that was fought with a lot of negative issues which was preventing a lot of the financing, now pretty much cleaned up totally. The number of tenders that are now being made in larger and larger packages to get bigger companies to be attracted to those projects is now in the process of rolling out. So I think you will see a lot of major awards happening by March this year.

Then you will go to a financing cycle because a lot of them are under public private partnership basis and then you will see mobilization and delivery. So I think we will probably hit that target of coming up to about 20 kilometers within about six-nine months from now.