New Delhi, Nov 21 (IANS): In its bid to catalyse the Indian economy, the government will require consistent infra push, Rana Kapoor, managing director and CEO, Yes Bank and Assocham president said here Friday.

"India will require consistent infra push and development all the way up to 2050. India has a 9-10 percent economic growth story, and this can be actualized with the current government's vision and action oriented approach, as seen since coming to power," he said.

"Make in India with design and innovation will translate to create in India. The current atmospherics are fantastic and very positive and the government's moves have started transforming the economic landscape to attract more big ticket investments," Kapoor said.

He, however, said there are key constraints to the public-private-partnership (PPP) model, especially as far as the quality of bank funding is concerned, which is a major determinant of the eventual success of infrastructure development.

Kapoor said there is a definite need to project more finance institutions in the country, as the three largest project finance companies have now turned into retail banks.

"PSU (public sector undertaking) banks, given their pre-eminence in the economy with over 70 percent market share, need to be a lot more efficient. We also require a lot more streamlined credit risk management and sectoral focus in the PSU banks," he said.

Talking about the ways to ensure success of PPP projects he suggested that there is a need to improve sector and region specific regulations, introduction of a mechanism to avoid over and unrealistic bidding by corporates and enable contract renegotiation and amendment of land acquisition norms on the lines of British Planning Act of 2008.

He said better planning and technical expertise are required for successful PPP projects and replication of key global best practices in the Indian ecosystem is important.