Private Sector Financing Crucial for India's Infrastructure: Economic Survey
Jul 22, 2024 13:07
India's Economic Survey highlights the need for increased private sector financing and resource mobilization to build quality infrastructure, emphasizing the role of both central and state governments.
New Delhi, Jul 22 (PTI) A higher level of private sector financing and resource mobilisation from new sources will be crucial for India to build quality infrastructure, according to the Economic Survey 2023-24.
The Economic Survey 2023-24 was tabled in Parliament by Finance Minister Nirmala Sitharaman on Monday.
According to the survey, facilitating this would not only require policy and institutional support from the central government, but state and local governments would have to play an equally important role.
The survey noted that there is a need to improve data capture and reporting mechanisms for investments in infrastructure across instruments and sectors as well as its composition across different projects at a granular level.
The Economic Survey is an annual document presented by the government ahead of the Union Budget to review the state of the economy.
The document also provides an overview of the short-to-medium-term prospects of the economy.
The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance under the supervision of the chief economic adviser.
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