A report by Crisil
In the report titled ‘Infrastructure Yearbook 2023’, it has been mentioned that in the next six financial years, the entire country will spend variable investment in the infrastructure development sector. It is estimated that a total of Rs 143 lakh crore will be invested in the infra sector during the period 2024-2030. This is more than double the amount (67 lakh crore) spent in the seven fiscal years since 2017.
More than 36 lakh crores will be spent in the next six years for eco-friendly investments. The report also points out that the amount spent in the last seven years is more than five times. Amish Mehta, Managing Director and CEO of Crisil, said that India’s economic growth will be recorded at a rate of 6.7 percent during the period till 2031. He also said that India will be the fastest growing among large economies.
The ‘Infrastructure Yearbook 2023’ report pointed out that four sectors such as roads and highways, power transmission, renewable energy and ports have performed well in 2023. Government policies and development activities that have been rapidly adopted in the last few years have led to this achievement. At the same time, the report also indicates that the next phase of development activities in the infra sector will be through several mega projects.
Appropriate and consistent policy and regulatory interventions and timely completion of projects will attract various segments of investment into the infrastructure sector and speed up activities, says the Crisil report. The rating agency pointed out that sectors like road and power will continue to shine. According to Crisil’s report, development in areas such as electric vehicle, solar energy, wind power and hydrogen fuel will be accelerated.