India needs $4.5 trillion till 2040 for infrastructure development, Niti Aayog CEO

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India will need $4.5 trillion of investment for development of Infrastructure sector till 2040, in order to improve overall economic growth and community well-being, Niti Aayog CEO Amitabh Kant said on October 31 during an event organized by Dun & Bradstreet (D&B).

CEO Kant said that the Indian economy is witnessing a growth of 7.5% per annum and there is a need to focus on building quality infrastructure to boost economic growth.

“Therefore, the country needs to focus on building quality infrastructure,” he stressed.

Noting the delays in the completion of infrastructure projects, Kant added that there is an urgent need to restructure entire existing public-private partnership framework.

He also pointed out that the government has been focusing on the infrastructure sector.

He further added that creating infrastructure initially through government spending is better, “but then as soon as it completes projects, the government must get out of the infrastructure projects because it is extremely poor at operation and maintaining infrastructure projects”.