(PTI)
As part of its goal to become a USD 5 trillion economy by 2024, India plans to spend USD 1.4 trillion on its infrastructure in the next five years, Union Finance Minister Nirmala Sitharaman has said.
Addressing the annual meeting of the International Monetary Fund (IMF) here, Sitharaman said a task force has been constituted in the finance ministry that will draw up a national infrastructure pipeline for the next five years. “As we envisage becoming a five trillion-dollar economy by 2024-25, our focus on creating world-class infrastructure has become even more resolute. If we spent USD 1.1 trillion on infrastructure in the last 10 years (2008-17), we now are going to invest about USD 1.4 trillion in the next five years,” she said.
India, she said, has taken various steps to enhance infrastructure investment by launching innovative financial vehicles such as Infrastructure Debt Funds (IDFs), Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs) and laying down a framework for municipal bonds.
