Infra spend, a mother of all stimulants; economic survey

    infrastructure investment
    The economic survey for 2017-18 has painted a rosy picture of the economy by scaling up GDP growth 6.75 percent this and 7.5 percent for the next fiscal and concluded that infra pending is in fact a mother of all stimulants. The survey has pitched for viewing infrastructure spending as a foundation stone for long-term growth, and made a call to promote infrastructure investment as “strategic”. It has also noted that enhanced investment in the infrastructure sector will certainly help in job generation, both directly and indirectly. Strategic investment in infrastructure produces a foundation for long-term growth. In a move that will make available cheaper finance for railway station redevelopment projects, the survey notes that ‘station redevelopment’ has been included in the Harmonized List of Infrastructure Subsectors. The Railways’ spare space in and around the stations will be commercially developed for station redevelopment projects. It has already been undertaken through various modes such as Zonal Railways, Indian Railway Stations Development Corporation Ltd, joint ventures with smart city special project vehicles, Railway PSUs and co-operation with State governments. Moreover, the commercial development undertaken near a station will become the nerve centre of the city and provide quality retail, commercial and hospitality development. In this context, it has called for ‘enhanced” construction of national highways and conversion of State highways into national ones, which will create demand for raw material like cement, steel and manpower.
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