Montek calls for credible policy environment

India needs to fix its financial sector and corporate bond market to attract higher private investment in the infrastructure sector, Montek Singh Ahluwalia, deputy chairman, Planning Commission, said at the Fortune Global Forum here today.

"The country needs a policy environment that is credible for investors. I think we are getting there. You need a lot of domestic debt for infrastructure development. However, there are institutional constraints in the corporate debt market though enough money is available," Ahluwalia said.

On inclusive growth, he said that it goes beyond poverty alleviation in India. "We also have to look at the aspirations of the middle class," he said.

Emphasising that health and education form a crucial part of the government's inclusive agenda, he said: "We need to increase the health insurance in the country from the present 11 per cent to 30-40 per cent."