Lack of resources brings down growth in key infrastructure: Arun Jaitley

Finance Minister Arun Jaitley today said some of the key infrastructure segments had slowed down due to lack of resources in the country. Speaking during the inauguration of national level summit on Sustainable Infrastructure for India in New Delhi Mr Jaitley said, low oil prices have enabled the government to channelise large part of saving in infrastructure projects. 

He said, result of that is visible in the last one year and most of the stalled projects amongst the highways and railways have now got moving. He added that as the public investments are enhanced in the infrastructure sector, the private players have also now re-entered into the field back. Highlighting the importance of rural Infrastructure, the Minister said, roads in the rural areas are the important aspects for the rural economy and it still needs much larger



resources. He said, this is the one area where lots of distance have to be covered. 

The Finance Minister informed that the government will soon invite bids for modernisation of 400 stations. Stressing that railways have raised money through issuance of bonds, he said, they also intend to mobilise international investment. He said the government has set up the National Investment and Infrastructure Fund NIIF and is in touch with global sovereign and pension funds to become partners. 

Reiterating that the government will continue with its thrust on public spending, Mr Jaitley said the public investment has been stepped up in the last year and it will continue to remain stepped up. He added that the global volatility has thrown up challenges and it is for India as to how to make the best use of those challenges.