Pvt sector must step up infra investment: DFS secy

India needs to spend 8-10% of gross domestic product on infrastructure for sustaining high single-digit growth rate over next couple of decades, said a senior finance ministry official.

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As the country looks to double its infra spends to ₹142 trillion (₹142 lakh cr) by 2030, this can’t come only from the public money but the private sector should need to open up their purses.

Since the past two decades, infra capex has been coming only form the government as during the boom years of the first decade of the millennium, private sector had built up more than adequate capacity and the economy since then has not reached its potential growth. This has forced the government to do the heavy lifting when it comes to infrastructure spending.