Mr. Raj Kalady - Managing Director, Project Management Institute
In the last two decades, India has emerged as one of the fastest-growing economies in the world. According to a Citi group report, following the reforms undertaken by Government of India, the GDP is likely to revive to 7.9% in 2015-16 and further up to 8.1% in 2016-17. Infrastructure plays a vital role in stimulating economic growth. India's extensive infrastructure needs are well known. Years of underinvestment have left the country with dire deficits in crucial areas like roads, ports, railways, energy, telecommunication, and airports. This lack of infrastructure reduces India's GDP growth by one to two percent every year.
The budget of 2015 saw a big push for infrastructure with a hefty Rs.70,000 crore increase in investment to achieve the deficit target accumulated over the years. Weak physical infrastructure has a direct impact on the growth and overall development of the economy.
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