Infrastructure Development forms the bedrock of the economic growth of a nation. The exponential increase in population puts pressure on the existing provision for civic amenities necessitating scaling up of infrastructural investment to the tune of INR 50 trillion to achieve sustainable development by 2022, as per a recent report.
Understandably, infrastructure is a primary focus area for the government under Prime Minister Narendra Modi as it strives to fast-track the economic growth in the post-COVID-19 scenario. The government has laid an ambitious target to allocate USD 1.4 trillion between 2019 and 2023, including investment to the tune of USD 750 billion on the railway infrastructure by 2030.
Other initiatives to incentivize infrastructure development include the INR 102 trillion- worth National Infrastructure Pipeline (NIP) encompassing sectors such as roads, railways, ports, airports, urban, power, telecom, etc.