Economic Survey calls for $1.4 trillion infra spending during FY2020-2025
To spur economic growth and achieve $5 trillion economy, India needs to spend about $1.4 trillion on the infrastructure sector during FY2020-2025, the Economic Survey tabled in Parliament said on Friday. Investment in infrastructure is necessary for the economy, as power shortages, inadequate transport and poor connectivity affects overall growth performance, as per the Economic Survey 2019-20, tabled in Parliament by Union Finance and Corporate Affairs Minister Nirmala Sitharaman. "To achieve GDP of $5 trillion by 2024–2025, India needs to spend about $1.4 trillion (Rs 100 trillion) over these years on infrastructure so that lack of infrastructure does not become a constraint to the growth of Indian economy. "NIP is expected to enable well prepared infrastructure projects that will create jobs, improve ease of living and provide equitable access for infrastructure for all thereby making growth more inclusive", the Survey said. As per the National Infrastr