Transport sector requires Rs 70 lakh-crore for expansion
As per a report, India needs Rs 14 lakh crore for the growth of transport infrastructure to achieve 7 percent economic growth.
The report says that the National Transport Development Policy Committee (NTDPC) needs to raise its investment in transport infrastructure like rail, highways, port and airport to Rs 70 lakh crore levels in 15th Five Year Plan from Rs 19 lakh crore in the ongoing 12th Five Year Plan.
The panel thinks that, to achieve 7 percent economic growth in the 12th plan followed by the growth of 9 percent till 2032, huge investment is required in the transportation infrastructure.
It has been suggested that the investment in the transportation sector need to be increased from 2.6 percent in 11th five year plan to 3.3 percent in the 12th five year plan and then should be stabilized at 3.7 per cent till 2032.
The government has established NTDPC under the chairmanship of Mr. Rakesh Mohan with the main target of recommending a long term National Transport Policy. The NTDPC has recently submitted its report.
The panel suggested raising investment in the transport infrastructure to a level of Rs30 Lakh Crore in the 13th plan and to Rs 45 Lakh Crore in the 14th plan.
The committee feels that the investment in transportation sector is required to be increased 7 times from Rs 10 lakh crore in the 11th Plan to Rs 70 lakh crore in the 15th Plan.
India is reeling under the economic slowdown and recorded a low economic growth of 4.5 percent in the recent financial year.
Source: The Financial Express
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