
Every body knows India is developing but very few people know how it is developing and what it needs to go further. The Confederation of Indian Industries (CII) says that infrastructure sector needs more financial support for overall development.
There is need of Rs 14,89,500 crore investment in next five years, private sector should have its share of Rs 60,000 crore every year.
India is far behind the countries of East and South-east Asia in terms of infrastructure spending with respect to GDP.
China generally spends 10.6 per cent of GDP on infrastructural development, India spent only about 4 percent on infrastructure in 2003.
According to a CII study, China spent $150 billion in 2003 against India’s $21 billion. However, the Planning Commission has promised to increase investment in infrastructure from the current 4.6 per cent of GDP to 7-8 per cent in the 11th Plan period.
The big question arises that from where the money will come? The disinvestment process has been put on the back burner by the UPA government. The IndiaInc. has suggested a PPP roadmap between the government, states and the private sector for drawing an overall investment plan in the sector.
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India Inc. to invest 60,000 crore per year for infrastructure development
Made Popular Aug 7 2006
India :
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