Building a new tomorrow
The government is gradually letting the private sector into a number of infrastructure industries. The government has also taken up a number of projects like the National Highway Development Project and the National Maritime Development Programme. Within the next five years, the government is planning to modernize railway stations, construct Freight Corridors between Mumbai and Delhi as well as Ludhiana and Kolkata, increase power generation capacity by about 70,000 MW and to increase irrigation facilities so as to develop about 16 million hectares of agricultural land. The expected increase in the share of infrastructure investment is about 9% of the GDP as a result of a proposed 494 billion dollar investment for the twelfth plan. Almost 30% of the total investment in the infrastructure sector is likely to come from the private sector. When implemented, India would require investments of 500 billion US dollars to sustain its economy at the current growth rate.