Public Private Partnership (PPP)
As per the planning commission, Government of India the definition of Public Private Partnership (PPP):-
“Public Private Partnership means an arrangement between a government/statutory entity/government owned entity on one side and a private sector entity on the other, for the provision of public assets and/or public services, through investments being made and/or management being undertaken by the private sector entity, for a specified period of time, where there is a well defined allocation of risk between the private sector & the public entity & the private entity receives performance linked payments that conform (or are benchmarked) to specified & pre-determined performance standards, measurable by the public entity or its representative”
Infrastructure Development Authority (IDA) has been constituted under the chairmanship of the
Chief Secretary, Government of Bihar under the Bihar State Infrastructure Development Enabling Act
2006 to provide for the rapid development of physical and social Infrastructure in the State and to
attract private sector participation in designing, financing and construction of Infrastructure Projects.
It is the nodal agency for PPP initiatives in the State.