Infra Development: The Way Forward

The path for India to become a $5 trillion economy in the next
5 years goes through infrastructure development, writes S.K. Khanna

Although the Indian economy has been facing macro-economic ups and down due to global economic gloom, it has managed to remain stable, recording moderate growth rate consistently. Braving all the problems beyond its control, it has improved its global economic ranking, and notching up to 6th position from 11th in 2018. With these credentials, India is aspiring to become a $5 trillion economy in the next 5 years. The maiden Budget of the new Finance Minister presented on July 5, contains an elaboration on the vision for making India a five-trillion dollar economy by 2023-24 through a fresh thrust on infrastructure development, digital economy, private investment, fiscal discipline, structural reforms, provision of credit growth / financing by the capital market, commitment to improve financial system which can promote private sector investment cycle, and contain imprudent borrowing.

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