$150 bn needed for infrastructure: PM
He said that India's investment rate, which is 31 per cent of the GDP, is expected to further increase.Updated: May 05, 2006 12:35 IST
Prime Minister Manmohan Singh has stressed that over $150 billion of investments were needed in the next few years in order to develop India's infrastructure.
Speaking at the 39th Annual Meeting of the Board of Governors of Asian Development Bank (ADB), he said, "India's infrastructure need in next few years is estimated at over $150 billion."
ADB, which till now has funded public transport, power and urban infrastructure projects in India, is now looking at investments in new areas including restoration of water bodies, tourism infrastructure and agriculture.
India's investment rate, he said, was 31 per cent of the GDP. This, along with foreign investment flow, was expected to further increase in future.
First Published: May 05, 2006 10:51 IST