Economic Survey Stresses Private Sector's Role in Infra Development

India needs a continued step-up of investment over the next two decades to sustain a high rate of growth

- STATESMAN NEWS SERVICE

The Economic Survey tabled in Parliament on Friday underlined the importance of private participation in the infrastructure sector to realise Viksit Bharat@2047.

India needs a continued step-up of infrastructure investment over the next two decades to sustain a high rate of growth, according to the Economic Survey 2024-25 tabled in the Parliament on Friday by Union Finance Minister Nirmala Sitharaman.

The survey states that building infrastructure—physical, digital and social—has been a central focus area for the government in the last five years. This has had various dimensions—increase in public spending on infrastructure, creation of institutions to de-bottleneck approvals and execution and innovative modes of resource mobilization, it said.

"Public capital alone cannot meet the demands of upgrading the country's infrastructure commensurate with the requirements of Viksit Bharat@2047. We need to ensure increasing private participation in infrastructure by improving their capacity to conceptualize projects and their confidence in risk and revenue-sharing mechanisms, contract management, conflict resolution and project closure," it said.