Infrastructure Key Sector For Economic Development

From housing provision to water and sanitation services and to digital and transportation needs, there is an increasing demand for superior delivery across the spectrum of entire infrastructure. Shreya Chaware explains how infrastructure sector is poised for growth bearing a bunch of opportunities in coming future.

-  Shreya Chaware

One of the major drivers of the Indian economy, without a shade of doubt, is the infrastructure sector. It's a sector that is highly responsible for boosting India's overall development, matching the mission and vision of the government to create world-class facilities across the country. This includes power generation O and distribution, bridges, dams, roads, and urban infrastructure development. In fact, infrastructure development is the need of the hour for India to achieve its GDP target of USD 5 trillion by 2025.

While the government has spent heavily through budgetary allocations over the past few years, challenges on the fiscal front have been a constraint on all-out infrastructure capital expansion-driven stimulus. The centre has launched an ambitious plan to spend ₹111 trillion through the National Infrastructure Pipeline (NIP). It has drafted other initiatives such as ‘Make in India’ and the production-linked incentives (PLI) scheme to enhance India's competitiveness globally, which also calls for an upgrade in infrastructure.

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