Private sector to invest $500 billion in infra: Mukherjee
November 8th, 2010 - 8:58 pm ICT by IANS
New Delhi, Nov 8 (IANS) The private sector is likely to contribute nearly half of the estimated $1 trillion investment in infrastructure sector during the 12th five-year plan period (fiscal 2012-17), Finance Minister Pranab Mukherjee said Monday.
“Nearly 30 percent of the total spending on infrastructure sector during the first three years of the 11th plan period has come from private sources. As we go into the next plan period, we expect this proportion to go up to nearly 50 percent,” Mukherjee said at a conference organised by the Confederation of Indian Industry and the US-India Business Council here.
During the 11th plan period (2007-08 to 2011-12), $514 billion investment is estimated in infrastructure sector. It is estimated to increase to $1 trillion during 12th plan period (2012-13 to 2016-17).
“In order to sustain the high growth in infrastructure spending, it is essential to source more and more funds from the private sector,” said Mukherjee, adding the government was taking initiatives to make the regulatory framework investment friendly to attract more overseas funds.
“The Indian government has steadfastly worked towards making foreign direct investment (FDI) regime progressive and liberal.”
He pointed out that 100 percent FDI is allowed through automatic route in most sectors in India.
The finance minister asked US companies to increase investment in Indian infrastructure and technology sectors.
- India to set up vibrant bond market: Mukherjee - Jan 19, 2011
- India seeks US investment in power sector - Sep 20, 2011
- Finance ministry vetting infrastructure debt fund scheme: Montek - Jun 10, 2011
- Jump in private funds for infrastructure likely in 12th plan - Dec 23, 2010
- Infrastructure spending may fall short of target: Montek - Sep 15, 2011
- Railway budget highlights 3 - Mar 14, 2012
- PPPs to boost infrastructure industry: Economic Survey - Mar 15, 2012
- Government eyes long-term debt to fund infra projects - Oct 12, 2010
- Overcome hurdles to up investment in infrastructure: FICCI - Sep 11, 2011
- IIFCL's role to be expanded - Sep 13, 2011
- India to grow by 8.5-9 percent in long term: Mukherjee - Oct 17, 2011
- Railway budget highlights 4 - Mar 14, 2012
- Infra sector faces $40.62 bn funding gap in 11th plan period - Aug 20, 2010
- Committee to evolve infra financing strategy - Nov 18, 2010
- India to set up debt fund to finance infrastructure - Jun 24, 2011
Tags: business council, confederation of indian industry, finance minister, foreign direct investment, india business, indian government, indian infrastructure, infrastructure sector, initiatives, New Delhi, plan period, pranab mukherjee, private sector, private sources, proportion, regime, regulatory framework, technology sectors, trillion