FM Expresses Optimism Worldclass Infrastructure In 10 Years

New Delhi: The Finance Minister, Mr P. Chidambaram, has expressed confidence that India would within the next ten years succeed in putting in place infrastructure that would be equal to the best in the world. The Finance Minister noted that the full growth in GDP has exposed the grave inadequacies in the country''s infrastructure sectors. The Committee on Infrastructure Financing, which submitted its report in May 2007, has advised that the aim for infrastructure investment should be revised from $ 320 billion to $384 billion at 2005-06 prices, which is equivalent to $ 475 billion at current prices. The real challenge lies beyond the resources, Mr Chidambaram underscored the need to look for innovative mechanisms and instruments to channelise the funds into the infrastructure projects.