The Economic Survey 2017-18 tabled in Parliament on Monday said that around $4.5 trillion worth of investments will be required by the country till 2040 to develop infrastructure "to improve economic growth and community wellbeing".
According to the survey, tabled by Finance Minister Arun Jaitley, the "current trend shows" that India can meet around $3.9 trillion infrastructure investment out of $4.5 trillion.
"The cumulative figure for India's infrastructure investment gap would be around
US$ 526 Billion by 2040," the survey said.
"The Global infrastructure outlook shows that the gap between required infrastructure investment and current trend of investment is expected to be widened over the year."
As per the survey, collapse of Public Private Partnership (PPP) especially in power and telecom projects; stressed balance sheet of private companies; issues related to land and forest clearances led to massive under-investment in infrastructure sector until the recent past.
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It added that India is "far ahead" of many emerging economies in terms of providing qualitative transportation related infrastructure.
"However, the Global Infrastructure Outlook reflects that rising income levels and economic prosperity is likely to further drive demand for infrastructure investment in
India over the next 25 years," the survey added.
--IANS
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