Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 5.0
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.0
Article rating: 3.0
Article rating: No rating
Article rating: 4.5
Article rating: No rating


India hopes to have world class infra in two decades: Jaitley

Author: IANS/Thursday, November 30, 2017/Categories: Infrastructure

India hopes to have world class infra in two decades: Jaitley

New Delhi, Nov 30 - Expressing hope that India will be able to create "world class infrastructure" in another 20 years, Finance Minister Arun Jaitley on November 30 said that his confidence in the timeline was based on how the country has become an "aspirational society" whose energies have been unleashed by the 1991 economic liberalisation.

Delivering the annual Defence Estates Day Lecture here, Jaitley said that in the quest for economic growth which would help improve the Indian state's resources, the country hoped to gradually come up to the level of a middle-income nation as defined by multilateral agencies.

"In the next two decades, hopefully, India will be able to say that it has developed infrastructure, which is as good as anywhere in the world," Jaitley said.

Noting that pre-1991, the country's regulated economy and the "very modest rate of growth" did not permit much public spending on infrastructure, he said the situation had changed and "India today has the ability to afford world class infrastructure".

"Post the liberalisation of 1991, we were able to unleash the energy and potential of the Indian economy. India has standardised itself to a growth rate of seven to 8% and is now a nearly $2.5 trillion economy," the Finance Minister said.

Coupled with this, Indian society has become aspirational and supported reforms such as Aadhaar, demonetisation and the Goods and Services Tax (GST) -- all of which are promoting greater formalisation and digitisation of the economy and, therefore, greater resources for the state, he said.

Declaring that investment in infrastructure is essential for growth and attracting foreign investment, Jaitley said that success areas in infrastructure like highways, airports and roads are where private investment has come in and consumers are willing to pay for use of the infrastructure.

"It is a virtuous circle... without infrastructure, foreign investors will not come, so there is need to invest in this sector," he said.

"In Gujarat and Andhra Pradesh, for instance, private ports have become more efficient and commercially viable than major ports. The Shipping Ministry now lets out berths to major private sector players," he added.

Print Rate this article:
No rating

Number of views (135)/Comments (0)

Kavita Giridhar Mallya


Other posts by IANS
Contact author

Leave a comment

Add comment



Ask the Finapolis.

I'm not a robot
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest



The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free