The private sector will have to join the Government in the funding of $1 trillion (over Rs 40 lakh crore) for infrastructure development in the 12th Plan staring next fiscal, the President, Ms Pratibha Patil, said today.
In her address to Parliament that marked the beginning of the Budget session, Ms Patil said investment in infrastructure sector was doubled in the current plan to $500 billion (over Rs 20 lakh crore) from the previous Plan and it would be raised by 100 per cent again in the 2012-17 period.
Seeking private sector investment in the sector vital to maintain the economic growth, she said: “This huge quantum of investment cannot be funded by the government alone. It needs to be supplemented by private participation.”
Asserting that the UPA Government has put in place the required framework for a transparent public-private partnership, she said private sector contributed 34 per cent of the investment in the segment last year.
About various infrastructure sectors, the President said an integrated latest terminal was operationalised in Delhi last year, marking a new beginning in the setting up world-class infrastructure in this sector with public-private participation.
On the port front, she said the tonnage “under Indian flag” crossed 10 million mark for the first time in October 2010 while the ports capacity crossed one billion tonnes per annum in January 2011.
As far as Railways is concerned, she said: “Work on the eastern and western dedicated freight corridors has commenced” and the Indian Railways has prepared a roadmap for high growth, rapid expansion of network, augmentation of capacity and modernisation.
The development of highways, she said is receiving priority attention and almost 16,000 km of road construction work is in progress.
“My government has approved a scheme for the development of over 1,100 km of national highways and 4,300 km of state roads in left-wing extremism affected areas as a special project,” she said.
The Arunachal Pradesh package for roads and highways, involving development of about 2,300 km length of roads, including the trans-Arunachal Highway, is expected to be completed by June 2015, she added.