Page 26 - CV April-May 2019 issue

‘ ‘
How

infrastructure is the KEY

to future GROWTH
’’

Not long ago, government estimates said But despite major developmental leaps in Future of infrastructure in India
that India needed to invest $100bn (Rs 6.9 the recent years, there are a lot of With this in focus, Nitin Gadkari, the
lakh crore) each year in the country's challenges ahead. For instance, the country
Minister of Road Transport and Highways,
infrastructure. That requirement continues faces a shortage of around 1.8 crore
and Shipping announced an investment of
to be on top of the country's economic housing units, according to the government
Rs 25 lakh crore for infrastructure over the
agenda even today. There are a lot of data. The government has to complete at
next three years. This includes Rs 5 lakh
industries that depend directly or indirectly least 30 lakh houses per year in order to
crore for road, rail and port connectivity
on the development of this sector. For this deliver on the promise of “Housing for all by
projects. An increase in government
reason, the infrastructure sector is always 2022”. And now that the affordable housing
spending may partly address the
in the spotlight whenever the topic of sector has been granted infrastructure
infrastructure concerns. But in order to
growth arises. status, we can expect an increase in the
realise the true potential of growth, an
number of participants here. Public
Key initiatives for sustainable increase in Public Private Partnerships
transport is another major challenge for the
infrastructure (PPP) is necessary. While PPPs have
government. In the face of rapid
The Government of India is keen on urbanization, the existing transportation existed for a long time, they have failed to
developing the infrastructure sector in the infrastructure in cities falls woefully short of take-off in a big way due to various
country. This is clearly evident through the global standards. Despite being in problems. With a greater thrust for
numerous initiatives announced for this existence for more than 150 years, the initiatives such as 'Make in India', we can
sector as part of Budget 2017-18. A Indian transport system scores poorly in expect to find an increase in the number of
provision of Rs 2.4 lakh crore has been set terms of quality, speed or safety. On an private players in this sector. Initiatives like
aside for the transportation sector as a average, one person is killed every four The Economic Times India Infra Summit
whole. This includes the Indian railways, minutes on Indian roads due to accidents. (ETIIS) 2017 are striving to bring together
shipping and roadways. Another landmark The average speed of 54 kmph begs for senior functionaries in the government and
initiative by the government was to offer modernization in Indian railways. The corporate sector. The event aims to find
infrastructure status to the affordable airports haven't been doing great either. meaningful solutions that will help to
housing sector. Most airports in cities are struggling with accelerate the growth of the infrastructure
sector.
Challenges problems such as congestion and shortage
of capacity. Source : The Economic Times, India Infra Summit
India is the largest democracy in the world. 2017

24 / CONSTRUCTION VISION / May June 2019