The Central Government has envisioned a plan of investing Rs.100 lakh crore in the infrastructure sector through the upcoming five years. The project is backed up by the government’s goal in realising the $5 trillion economy by the year 2025.
Union Minister Piyush Goyal mentioned that the investment would transform the quality and availability of infrastructure of roadways, railways, airports, highways, and more. All the infrastructure-related sectors will see a developmental leap in the next five years, he said.
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The minister also expressed that the department of railways has estimated a 12-year plan with an investment plan that requires around Rs.50 lakh crore. However, the government is not in a favourable condition to put in this kind of money on the project. Therefore, the government has decided to include the private sector in the project. Goyal said that they are laying down the framework such that public and private sectors work closely within a partnership model.
Goyal added that India cannot have a situation where it opens opportunities to the world, but does not get equal access and opportunity for itself in the rest of the world. India has to engage well with the other countries to ensure non-tariff barriers cannot stop the exports.
For any clarifications/feedback on the topic, please contact the writer at apoorva.n@cleartax.in
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