NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / India needs Rs. 43 lakh crore to meet infrastructural growth
    Business

    India needs Rs. 43 lakh crore to meet infrastructural growth

    India needs Rs. 43 lakh crore to meet infrastructural growth
    Written by Anish Chakraborty
    Apr 04, 2017, 06:00 am 3 min read
    India needs Rs. 43 lakh crore to meet infrastructural growth

    Finance minister Arun Jaitley said that in the next five years, India would need an investment of Rs. 43 lakh crore to meet its infrastructural-needs. 70% of this yet unmet investment will be directed to stabilize power, roads and urban infrastructure sectors. India would need a sound infrastructural backbone if it plans to maintain a proper growth trajectory. Let's understand this space in detail.

    NITI Aayog eyes 10 big infra projects for quick completion

    NITI Aayog authorities said that they would zero down on "ten big infrastructure projects" across sectors that can be developed through the public private partnership mode. It aims to give "developmental-support" for a timely completion of projects. The government has allocated a massive amount of Rs. 3.95 lakh crore for infrastructure development in the Union Budget and Jaitley said this was to propel growth.

    150 Infra projects are running behind schedule

    As many as 1,186 such projects were under the scrutiny of the Ministry of Statistics and Programme Implementation at the end of December 2016. Among these, around 94 infra projects worth Rs. 150 crore or more have been now identified to have been lagging behind schedule, according to the concerned minister V Sadananda Gowda .

    Infrastructure project hiccups and fix applied to overcome them

    There are several Factors hindering infra projects. Delay in land acquisition, clearances, rehabilitation and resettlement, local body permissions and contractual issues are among major reasons behind the delay and cost override. The concerned ministry said that steps like rigorous project appraisal, forming standing committees, automated monitoring system, fixation of duties and project coordination between states and centre are at place to expedite these projects

    A BRICS push is needed to sustain growth

    While speaking at the second annual meeting of the BRICS New Development Bank. Jaitley mentioned that India has proposed projects worth about $2 billion from New Development Bank. This funding if acquired would be diverted into projects earmarked for smart cities, renewable energy, urban transport, including Metro Railways, clean coal technology, solid waste management and urban water supply.

    Asia needs $26 trillion, India's rating remains negative

    Asian Development Bank said that developing countries would need investments in tune of $26 trillion until 2030 to sustain growth. Experts also opined that countries need to double up their expenditure on infrastructure which is around $881 billion per year now. Fitch India Ratings and Research agency in its projections has sustained its negative outlook towards India's infrastructure sector for FY-18

    Banker to five emerging national economies

    New Development Bank was set up in 2015 by the BRICS nations - Brazil, Russia, India, China and South Africa and aims to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies, as well as in developing countries.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    India
    NITI Aayog
    South Africa
    Arun Jaitley

    Latest

    Surajkund Mela 2023: Delhi-NCR people should not miss this fair Lifestyle
    Sensex slips 220 points, Nifty ends near 17,700 mark Stock Market
    Rakhi Sawant's husband Adil Khan Durrani arrested after actor's FIR Rakhi Sawant
    ICC Player of the Month (January 2023): Gill, Siraj nominated  ICC Awards

    India

    India sends first batch of relief aid to earthquake-hit Turkey Turkey
    24-year-old Indian-origin student makes history; to head Harvard Law Review Harvard
    This ambidextrous Indian kid can write in 11 different styles Lifestyle
    Traveling via road to become faster than flights, Gadkari indicates Ministry of Road Transport and Highways

    NITI Aayog

    PM to chair NITI Aayog meet today; KCR to boycott Telangana
    Cabinet clears proposal to raise marriage-age for women to 21 Narendra Modi
    India's richest 10% hold 57% of national income: Inequality Report Indian Economy
    COVID-19: Centre says October-November most crucial; warns against festivities Union Health Ministry

    South Africa

    2022 T20 World Cup, SA vs ZIM: Preview and stats ICC T20 World Cup
    Add these unique South African accommodations to your bucket list Travel And Tourism
    PM Modi to release 8 cheetahs from Namibia into Kuno Madhya Pradesh
    5 budget-friendly accommodation options in Johannesburg for solo travelers Sustainability

    Arun Jaitley

    Bishan Singh Bedi wants his name removed from Kotla stand Cricket: News, Stats and more!
    Happy hours no more: Coronavirus changed rules of eating out India
    Budget 2020: Nirmala Sitharaman reveals three themes of Budget Narendra Modi
    Jaitley: Remembering the man (behind the politician) on his birth-anniversary London

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023