Infrastructure Development in India: The Way Ahead

Abstract

Infrastructure development is prerequisite in transforming a slow-moving economy into an advanced one. In the Global Competitiveness Index, India’s rank is 70 out of 140 countries for infrastructure quality in the world. As per the recent estimation, to convert the vision of $5 trillion economy into reality, $4.51 trillion needs to be invested by 2030 in building the infrastructure of the country. Great efforts in the form of huge investment in infrastructure is required if we want to convert this dream into reality. The latest Budgetary outlay of Government of India for infrastructure sector of ₹100 lakh crore which is streamlined to be invested on infrastructure over the next 5 years and more than 6,500 projects will boost the economic development of the country. Infrastructure industry encompasses sectors such as social and commercial infrastructure, communication, energy, transport and water sanitation. This article is an attempt to study the public private partnership (PPP) model in infrastructural development in India. This research article has six sections as follows. Section 1 aims at defining the importance of infrastructure for economic growth of the country. Section 2 provides the discussion on PPP model. Section 3 explains the review of literature. Section 4 represents the research problem and research question followed by discussion and possible solutions in Section 5 and, finally, Section 6 of the article represents the conclusions and the limitations along with the direction for future research. JEL Classification: M48, R42, F65, G32