Eco Survey highlights infrastructure's role

The Economic Survey 2020-21 tabled today acknowledged the role of infrastructure as the foundation of growth of the country in no uncertain terms.

The importance of basic infrastructure facilities can never be overstated, the survey noted. “In the absence of adequate infrastructure, the economy operates at a suboptimal level,” it said.

Just putting in money hardly serves any purpose when adequate infrastructure is missing. Without this piece of the puzzle falling in place, the economy remains distant from its potential and frontier growth trajectory, the survey said.

According to the document, rapid and inclusive economic growth will be difficult to achieve without investing significantly in the infra sector.

Infrastructure and economic growth share a lot of backward as well as forward linkages, which makes investment in infra an imperative for an economy like India’s, the Economic Survey 2020-21 observed.

The survey highlighted the National Infrastructure Pipeline (NIP) scheme which is targeted at facilitating the implementation of world-class infrastructure projects in the country.

According to the statement, this first-of-its-kind initiative will boost the economy and generate better employment opportunities. Besides, it will drive the competitiveness of the Indian economy, the survey said.

graphET Online

Funded jointly by the Central Government, State Governments and the private sector, the NIP was launched with the projected infrastructure investment of Rs 111 lakh crore spanning the period between 2020 and 2025. The sectors that will have a major share in the scheme include energy, roads, urban infrastructure and railways.

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