{"id":162648,"date":"2022-01-17T20:48:35","date_gmt":"2022-01-17T15:18:35","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=162648"},"modified":"2022-01-17T20:48:35","modified_gmt":"2022-01-17T15:18:35","slug":"challenge-arbitration-awards-carefully","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/challenge-arbitration-awards-carefully\/","title":{"rendered":"Challenge arbitration awards carefully"},"content":{"rendered":"\n

News:\u00a0<\/span><\/b>Recent guidelines by the central government have\u00a0asked its arms, including state-run firms to avoid appeal against every arbitration award,\u00a0especially\u00a0in the cases that have a low probability of success.<\/span>\u00a0<\/span><\/p>\n

These guidelines are released to avoid\u00a0project\u00a0delays.<\/span>\u00a0<\/span><\/p>\n

What\u00a0are\u00a0the implications\u00a0of these project delays?<\/span><\/b>\u00a0<\/span><\/p>\n

Project delays and cost overruns cause a lot\u00a0of\u00a0<\/span>harm to the exchequer<\/span><\/b>.<\/span>\u00a0<\/span><\/p>\n

Government has to at the end pay a\u00a0<\/span>huge amount in the form of compensation and interest costs.<\/span><\/b>\u00a0<\/span><\/p>\n

This also negatively affects the\u00a0<\/span>image of government.<\/span><\/b>\u00a0<\/span><\/p>\n

What have been recent\u00a0other\u00a0government initiatives to avoid project delays?<\/span><\/b>\u00a0<\/span><\/p>\n

The latest guidelines have removed several hurdles in project management from conceptualization of a project to land acquisition and award of a contract<\/span>.<\/span>\u00a0<\/span><\/p>\n

Budget 2021-22<\/span><\/b>\u00a0enhanced capital expenditure by 34.5% to\u00a0<\/span>\u20b95.54 trillion.\u00a0<\/span>\u00a0<\/span><\/p>\n

The \u20b9<\/span>111 trillion\u00a0<\/span>National Infrastructure Pipeline (NIP)<\/span><\/b><\/a>\u00a0is also expected to boost growth.<\/span>\u00a0<\/span><\/p>\n

What is the way forward?<\/span><\/b>\u00a0<\/span><\/p>\n

As Public expenditure is key to accelerating growth and creating\u00a0jobs<\/span>(<\/span>multiplier effect<\/span><\/b>), it is important that projects get completed on time.<\/span>\u00a0<\/span><\/p>\n

Both the parties in the dispute should be encouraged to resolve the issue through disputes through\u00a0<\/span>discussion and mediation instead of resorting to legal recourse.<\/span><\/b>\u00a0<\/span><\/p>\n

Source-\u00a0<\/span><\/b>This post is based on the article \u201c<\/span>Challenge arbitration awards carefully\u201d\u00a0<\/span><\/b>published in\u00a0<\/span>Live Mint<\/span><\/b>\u00a0on<\/span>\u00a017th\u00a0Jan 2022<\/span><\/b>.\u00a0<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

News:\u00a0Recent guidelines by the central government have\u00a0asked its arms, including state-run firms to avoid appeal against every arbitration award,\u00a0especially\u00a0in the cases that have a low probability of success.\u00a0 These guidelines are released to avoid\u00a0project\u00a0delays.\u00a0 What\u00a0are\u00a0the implications\u00a0of these project delays?\u00a0 Project delays and cost overruns cause a lot\u00a0of\u00a0harm to the exchequer.\u00a0 Government has to at the… Continue reading Challenge arbitration awards carefully<\/span><\/a><\/p>\n","protected":false},"author":10323,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10501],"class_list":["post-162648","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1702703584},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/162648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10323"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=162648"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/162648\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=162648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=162648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=162648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}