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Subsidised credit from the government and the RBI has not proved to be a sustainable source in the past. Moreover, the bond market in India is still awaiting reforms.
PM Narendra Modi calls on long-term global investors to invest in infrastructure in India, and says the country will have a multiplier effect on development and growth across the world.
India is banking on infrastructure to become a growth driver for the economy that is headed for a double digit contraction in 2020-21.
PMO has set a 9 October deadline for infrastructure ministries to send a list of such projects that can be completed on or before 15 August 2022.
Seven sectors i.e. coal, crude oil, natural gas, refinery products, steel, cement and electricity saw negative growth for the fifth consecutive month.
Deepak Parekh, Chairman of HDFC Ltd, India's largest housing finance company, was the guest at ThePrint's Off the Cuff. In a conversation with Editor-in-Chief Shekhar Gupta, Parekh talks about the stressed financial system and how the sector could see consolidation in the coming months. He was also optimistic about demand recovery in the coming months and advocated aggressive asset monetization and disinvestment to create fiscal space. Parekh also cautioned against blindly printing money. Parekh said builders should look to provide discounts and clear their housing inventory in the coming months.
Construction of everything from roads to ports were already behind schedule by an average 3.5 years, according to an analysis by the Indian govt.
In an address to the CII, Das stressed the need for alternative sources of infra financing, and pushed for early completion of FTAs with US, UK and EU.
The decision to increase infrastructure spending comes at a time when the Indian economy is forecast to contract by more than 5 per cent in 2020-21.
ICMR’s Covid programme has proved to be a flag-bearer of Atmanirbhar Bharat as we have worked in close coordination with the domestic healthcare industry to make India self-sufficient in testing.