Explaining India’s infrastructure slowdown

There is currently much finger pointing taking place in India over the mess that is the state of the country’s infrastructure investment.Fresh investments are not forthcoming, and even existing projects face implementation issues. Is overall demand-growth slowdown responsible for the situation? Or does it have to do with financial constraints resulting from fragile global markets, risk-averse banks and high interest rates? Or are the government’s failures in policy-making, granting clearances and coordinating between its own departments also partly to blame?