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2 record(s) found in 'March 2003'

After considerable discussion and debate, the government of India dismantled the Administrative Pricing Mechanism last year. The intention behind the dismantling of the APM was to create a free and competitive market for petroleum products, and to ensure the viability of the oil companies which would be freed from price control by the government.

  • The Hindu Business Line, 20 March 2003

Unlike previous Budgets, the finance minister's speech stressed the need for leveraging public funds to encourage private participation in infrastructure sectors, and proposed a "viability gap funding" (VGF) mechanism to attract Rs 60,000 crore in roads, rail, airports and sea ports.