Infrastructure sector needs Rs 50 lakh cr investment: Jaitley

Laying thrust on infrastructure, the Finance Minister, Arun Jaitley, said: “Infrastructure is the growth driver of economy, it will need a massive investment in excess of Rs 50 lakh crore.”

“Our country needs massive investment estimated to be in excess of Rs 50 lakh crore in infrastructure to increase the growth of GDP, connect and integrate the nation with a network of roads, airports, railways, ports and inland waterways and to provide good quality services to our people.”

Expressing confidence that 9,000 km of road will be completed during 2017-18, the Finance Minister said, “Our Government has scaled new heights in development of road infrastructure sector. We are confident to complete National Highways exceeding 9,000 kilometres length during 2017-18.”

“Ambitious Bharatmala Pariyojana has been approved for providing seamless connectivity of interior and backward areas and borders of the country to develop about 35,000 km in Phase-I at an estimated cost of Rs 5,35,000 crore,” he said.

“To raise equity from the market for its mature road assets, NHAI will consider organising its road assets into special purpose vehicles and use innovative monetising structures like Toll, Operate and Transfer (TOT) and Infrastructure Investment Funds (InvITs),” Jaitley said.