Govt seeks private funding for infra in 12th Plan: Patil

Subscribe to Oneindia News

New Delhi, Feb 21 (PTI) The private sector will have tojoin the government in the mammoth funding of USD one trillion(over Rs 40 lakh crore) for infrastructure development in the12th Plan staring next fiscal, President Pratibha Patil saidtoday.

In her address to Parliament that marked beginning of thebudget session, Patil said investment in infrastructure sectorwas doubled in the current plan to USD 500 billion (over Rs 20lakh crore) from the previous Plan and it would be raised by100 per cent again in the 2012-17 period.

Seeking private sector investment in the sectorM vital tomaintain the economic growth, she said, "This huge quantum ofinvestment cannot be funded by government alone. It needs tobe supplemented by private participation."

Asserting that the UPA government has put in place therequired framework for a transparent public-privatepartnership, Patil said private sector contributed 34 per centof the investment in the segment last year.

"The contribution of the private sector has reached 34per cent of the total investment in infrastructure last year,"she said.

Patil said the UPA government accorded "highest priority"to improving infrastructure which is "critical todevelopment."

Talking about various infrastructure sectors, Patil saidan integrated state-of-the-art terminal was operationalisedin Delhi last year, marking a new beginning in setting upworld class infrastructure in this sector with public-privateparticipation.

On the port front, she said the tonnage "underIndian flag" crossed 10 million mark for the first time inOctober 2010 while the ports capacity crossed one billiontonnes per annum in January, 2011.

As far as Railways was concerned, she said "Work on theEastern

Please Wait while comments are loading...