Infrastructure is key to growth of economy: FM

22/09/2016 16:24

The union finance minister Arun Jaitley said that infrastructure is key to growth of economy. He said that an institutionalized forum amongst BRICS countries could serve as a regional knowledge hub with exchange of information facilitated through cloud sharing, and other electronic methods.

Delivering the Inaugural Address after inaugurating the BRICS India 2016 seminar, Jaitley said that projects in transportation sector like Highways, Ports and Railways will be area of mega economic activities as far as infrastructure sector in India is concerned.

The finance minister further said that investment, both from public and private sector, will be required for infrasturucture financing, especially in areas of health, education, sanitation, renewable energy, highways, ports and railways among others.

Jaitley outlined the strategy the Government has adopted to boost the Indian Economy like Make in India, 100 smart cities, and liberalised FDI regime. He said that the Government gives high priority to Infrastructure and have taken a number of policy decisions like NIIF, Innovative new financial instruments such as REITS, INVITS, IDFs.

He stressed the need for BRICS member countries to share their experiences in financing and delivery of infra projects so that they can collectively move to higher quality and efficiency in the delivery of public services.

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