Infrastructure development in the country would require huge funds and there is a need for long term financing in this regard, said KBS Sidhu, Joint Secretary, Union ministry of Housing and Urban Poverty Alleviation.
"There is a huge gap in infrastructure required in the country. Long term financing has to be arranged for the development of the required infrastructure," Sidhu said while addressing a conference on 'Financing for Infrastructure and Real Estate Development' organised by PHD Chamber here.
Noting that funds requirement for setting up infrastructure was huge, he said the Centre and state governments together could not fund such huge projects and that Public Private Partnership (PPP) was the preferred mode for the setting up of such projects.
"An innovative approach is required which has transparency and capacity for speedy approvals,' he said.
Earlier, R S Sachdeva, Co-Chairman, PHD Chamber of Commerce and Industry said: "Across the globe, infrastructure is the lifeblood of prosperity and economic confidence in the 21st century.
Well-planned and well executed investments offer developing economies the hope of basic facilities for all and a chance to compete in a global marketplace.
