India take steps forward towards funding of infrastructure projects
BharatiyaJanata Party-led NDA government has always considered infrastructure development in its top priorities. This ruling party came in power in April-May general election on the promise of stimulating slumped economic growth. However statistics don’t always tell the detailed story, they rather provide detailed outline of the story.
As per the statistics from Centre for Monitoring Indian Economy Pvt. Ltd (CMIE) more than 100 billion dollar projects in India are stalled as of 31 March 2014. Out of these projects, there were road projects of at least INR 1.8 trillion. The reasons behind trapping of these projects include lack of land & environmental clearance, said Road Transport and Highways minister NitinGadkari.
50 percent of the rationalized loans in the Indian banking system are in were allocated in the infrastructure sectors including power, iron, steel and more.
Now the government aims to enhance funding for infrastructure sector. The efforts are being made to make capital investment available smoothly in this particular sector. SEBI and RBI have introduced a series of plans to make investment available easily for these sectors.
Source: Mint
BJP-led NDA government, Centre for Monitoring Indian Economy Pvt. Ltd, NDA government, RBI, Road Transport and Highways (RTH) Ministry, Road Transport and Highways department, SEBI
