Huge investment scope in India: Pranab

While addressing the first business session of the annual meeting of the Asian Development Bank, Finance Minister Pranab Mukherjee on Friday said that India needs about USD 100,000 crore in next five years for infrastructure development, half of which has to come from the private sector.

The Finance Minister also said that the goal was to raise the manufacturing share in the GDP to 25 per cent and create 100 million new jobs over the next ten years.

Mukherjee said that India's focus was on inclusive growth and therefore, the development strategy was to achieve this.

"We have empowered the people by giving them access to entitlement backed by legal enactment," he said, while

mentioning steps like Right to Education, Right to Information, Right to Employment and Right to Food.

He said that India has made large investments in social sectors like education, health, rural connectivity, which are

necessary for inclusive growth.

The Finance Minister also talked of various steps taken to achieve fiscal consolidation, to adopt domestic demand-driven strategy, to minimise the impact of international crisis, to ease extra commercial borrowings and in the fields

of direct and indirect taxes.

He also assured the international community that India was confident of its economy reverting back to 8-10 per cent

growth per annum in the coming years because of its strong fundamentals.

Sensex dips 320 points, closes at...

TRAI will consult shareholders before any...

Post Comments

Huge investment scope in India: Pranab

Previous Story

Next Story