Funds no constraint for infrastructure: FM

Finance Minister P Chidambaram today said inadequate infrastructure was retarding the country's economic growth by 1.5-2% every year, and that constraint of funds would not be allowed to come in the way of developing infrastructure.

"To address the need for long-term funds for infrastructure projects, the government has set up the Indian Infrastructure Finance Corporation (IIFC) with Rs 10,000 crore," Chidambaram said after inaugurating the conference of state chief secretaries on public-private partnership.

"However, there will be no limit to funds if there are viable long-term proects to be funded," he added.