Rs 3,20,000 cr for upgrade of infrastructure

The Planning Commission has earmarked Rs 3,20,000 crore for modernisation and upgrade of ports, airports and highways for the 11th Plan period.

Releasing an Assocham study titled "Infrastructure: The Billion Growth story" at a press conference here on Thursday, advisor to the deputy chairman of the Planning Commission, Gajendra Haldea, said Rs 40,000 crore had been earmarked for airports while Rs 60,000 crore was set aside for upgrade of ports.

Another Rs 2,20,000 crore has been set aside for building highways, 75 per cent of which will be financed through public-private partnerships.

"Resource generation will not be a constraint as the government is committed to building a world-class infrastructure for the industry to grow at a double digit rate of 12 per cent," Haldea said.

Assocham President Anil K Aggarwal said the study suggested creation of a consortium of banking and financial institutions to finance domestic infrastructure needs which was estimated at $150 billion.