Union Government fixes projected investment in infrastructure at ₹38.22 lakh crore

The government has fixed at Rs 38,22,822 crore the revised projections for investment in infrastructure in the past five years.

Finance Minister Arun Jaitley said in Lok Sabha that as per the NITI Aayog, the revised projection for investment in infrastructure in 2012-17 is Rs 38,22,822 crore, which is 1.6 times the investment of Rs 23,77,746 crore achieved in 2007-12 at current prices.

Jaitley said the government was very much conscious that the development of infrastructure is crucial to boosting growth and expanding services in the country.

The NITI Aayog’s three-year action agenda (2017-18 to 2019-20) has also spelt out how infrastructure development is one of the most crucial elements of economic transformation.

The finance minister said the infrastructure projects in the country were implemented in public-private and private modes, while the public sector projects were implemented by the Centre, state governments and local bodies.

There is no central or single registry of infrastructure projects along with their funding in the country, he said.

Jaitley said the government has taken a number of steps to mobilise funds from various sources for development of infrastructure including launching of innovative financial vehicles such as infrastructure debt funds, real estate investment trusts, national investment and infrastructure fund, laying down a framework for municipal bonds, allowing complete pass through of income tax to securitisation trusts.