Tuesday, December 4, 2007

Infra spending to touch 9% of GDP to sustain growth rate

" Though investments in infrastructure have picked up significantly over the last few years, the pace of development has to accelerate if India is to meet its target of raising infrastructure investment to 9 per cent of GDP during the 11th plan (2007-12), said Planning Commission deputy chairman Montek Singh Ahluwalia. “Investment in infrastructure is now no more a trickle but has become more of a stream,” Ahluwalia said while addressing the ongoing three-day India Economic Summit in the city today. “This investment now has to become a flow. Bottlenecks in infrastructure will be a critical constraint to growth in the future.”

The construction of the National Highways had accelerated India's economic growth. It also increased the value of the land/real estate along the road ways throughout India. The Infrastructure Construction Industry is the prime sector today in India. The Government is now announcing more investments, upto 9% of the GDP for the next five years. If this plan is implemented properly, would transform the Indian Landscape to that of the European / Chinese style.

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