Infrastructure holds key to overall growth: experts

November 22nd, 2008 - 7:45 pm ICT by IANS  

Lucknow, Nov 22 (IANS) Infrastructure development is an essential pre-requisite for the overall development of the country, and the government should encourage the public-private partnership (PPP) model to meet the challenges in this sector, experts said Saturday. Various industry experts gathered here to participate in a convention on “Creating World Class Infrastructure - Policy Imperatives”, organised by the the Lucknow Management Association (LMA).

“The growth in agriculture as well as the (Uttar Pradesh) state GDP is positively and significantly influenced by infrastructure,” Gyanendra Mani, a expert at the Lucknow-based Bankers Institute of Rural Development, said.

“It would be wise for the state government to intervene in the form of a joint effort with the private sector,” he added.

However, they expressed concern over the lack of a clear policy framework for private sector participation.

“This has hampered the badly-needed infrastructure development, particularly in telecommunication, power, roads and ports. The public sector, which led the investment in the infrastructure sector until recently, has also reduced its investment considerably due to its poor fiscal position,” LMA president Jayant Krishna said.

He added that India could certainly benefit from the PPP model.

Experts from the telecom, power, transport, agriculture and other fields were also present at the convention.

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