This study presents a comparative analysis of central government and erstwhile Jammu & Kashmir (J\&K) state-specific Public–Private Partnership (PPP) toll infrastructure development policies. The study was to test the variations in the investor confidence, the project conduct schedules, responsiveness to local predicaments, public acceptability, and the toll affordability. Data was obtained through a mixed-method approach using 100 respondents, which included government officials, private concessionaires, toll operators, road users, and community members. Other secondary data was obtained through government policy documents, reports on projects, and industry. These results indicate that the core PPP policies, especially those that have been in place since 2019, have been successful in enhancing investor confidence and the efficacy of project completion schedules through standardized Model Concession Agreements, the enhanced institutional backing, and the uniformity of the risk allocation processes. However, these policies were found to be less responsive to the region's unique socio-economicandgeographical challenges. On the other hand, the statespecific policies in J&K recorded a better acceptance among the people, toll affordability, and flexibility towards the local circumstances, although a lack of proper coordination i.. investor interest, as well as delays on projects were often witnessed. This research gathers that the two methods are not enough on their own to address development needs of the complex matters of J\&K. It is proposed that such a policy framework is best characterised by what can be broadly termed as a hybrid policy framework, which can be efficiently and investor-friendly (i.e. in line with possible policies at the centre), as well as flexible and local-sensitive (i.e. in line with possible policies at J&K). The study is skewed in terms of the sample size it has used, the scope of the research, and the amount of information it covers, which is just in J&K. Other areas should be covered, and likewise, the scope of the research and the amount of information it has to show