In order to match the infra deficit in various sectors across the country, India needs to spend over Rs.50 lakh crore in key sectors including power, highways, railways, urban infra, ports and airports over the next five years through 2022, research and ratings agency CRISIL said in its recent findings. This projection factors an average annual GDP growth of 7 percent, infrastructure investments equal to 5.5 percent of GDP, and prospects of pick-up in private sector investments after fiscal 2019. It sees power, transport and urban sectors accounting for 78% of overall infrastructure spending, it claimed in its infrastructure Yearbook that was launched recently. The Yearbook was launched here along with an Infrastructure Invest-ability Index by NITI Aayog Chief Executive Officer (CEO) Amitabh Kant. The index tracks, measures and assesses investment attractiveness, development and maturity of infrastructure sectors. Infrastructure investment in India is estimated to have risen to Rs.37 lakh crore - or 5.6% of GDP - between fiscals 2013 and 2017, marking a 56% growth over the Rs.24 lakh crore spent in the preceding five years. In fiscals 2016 and 2017, higher Central government spending, partially offset a steep decline in private investments and deterioration in state government finances. According to CRISIL, investments by the private sector and states are likely to remain subdued in the near term.
📅Published on:
30 October 2017
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