India's infrastructure spending to double to Rs. 143-lakh crore from 2024 to 2030: CRISIL

India will spend nearly Rs. 143 lakh crore in infrastructure over the seven fiscals through 2030, which is more than twice the Rs 67 lakh crore spent in the previous seven fiscal years starting in 2017, states CRISIL during its flagship India Infrastructure Conclave 2023 held in New Delhi. Of the total, approximately Rs 36.6 lakh crore will be green investments, marking a five-fold increase compared to the fiscals 2017-2023. “CRISIL expects that India’s gross domestic product will grow at an average of 6.7% through fiscal year 2031, making it the fastest-expanding large economy. The per capita income is projected to rise from $2,500 now to $4,500 by fiscal year 2031, thereby creating a middle-income country. This growth will be underpinned by massive al-lround infrastructure development, with a sharp focus on integrating sustainability,” according to Amish Mehta, Managing Director & CEO of CRISIL Ltd. Shri Nitin Gadkari, Union Minister for Road Transport and Highways, Government of India, was the keynote speaker at the conclave and launched the CRISIL Infrastructure Yearbook 2023 in the presence of a galaxy of policymakers, industry leaders, representatives of funding agencies and other stakeholders.