NITI Aayog has prepared a Cabinet note that proposes if arbitration awards favour infrastructure companies, the government should pay up. If the award is unanimous, no appeal should be made, it adds. It has also suggested infrastructure ministries ease arbitration norms and release stalled payments. “This will de- bottleneck project development and will avert loss of time and blockage of capital,” said Kameswara Rao, partner (grid), PwC. Rao said it was not uncommon for infrastructure projects to face local implementation challenges and executing agencies should be empowered to accept reasonable variations. “Agencies must not fear subsequent challenges to their decisions,” he added. Bank executives said the proposal in the Cabinet note would help improve the financial health of companies. Companies facing payment delays could start repaying interest and principal on outstanding loans, they added. Niti Aayog’s proposal comes at a time when ? 1.65 lakh crore of banks’ ? 3