 "Infra spend: India's $500-bn goal looks too ambitious")
New Delhi: The government is getting a bit realistic as far as infrastructure spend is concerned. It may have to revisit its policy as there are growing concerns in several quarters that the numbers may just not be within reach.
[caption id=“attachment_84585” align=“alignleft” width=“380” caption=“Over the next five years ending March 2017, Asia’s third-largest economy plans to invest $1 trillion in building infrastructure including power, ports, roads and railways. Reuters”]
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Montek Singh Ahluwalia, deputy chairman of the Planning Commission, lent credence to those fears when he said the government may miss by as much as 12 percent of a $500-billion target for infrastructure investment in the 2007-2012 period, Montek Singh Ahluwalia, deputy chairman of the planning commission, said on Thursday.
Over the next five years ending March 2017, Asia’s third-largest economy plans to invest $1 trillion in building infrastructure including power, ports, roads and railways.
Expenditure on infrastructure projects in India grew from 5 percent of the gross domestic product to 8.9 percent during the current Plan period. The 12th Plan aims at a planned infrastructure spending of around $1,000 billion - roughly 11 percent of the GDP.
Agencies