India needs USD 1.5 trillion for infrastructure: Jaitley

India needs USD 1.5 trillion for infrastructure: JaitleyUpdated on : 27-06-2016 08:35 AM
Finance Minister Arun Jaitley on Sunday said that India needs over 1.5 trillion US dollars in investment in the next 10 years to bridge infrastructure gap as the government intends to connect seven hundred thousand villages with roads by 2019 as part of a massive modernisation plan.

He further added that the government is seeking private sector participation in converting railway stations into commercial hubs.

The Finance Minister was addressing a seminar on "Infrastructure and Global Economic Growth" in China.

He also spoke of massive rural sanitation programme as part of India's current infrastructure programme.

Earlier, Finance Minister Arun Jaitley on saturday met his Chinese counterpart Lou Jiwei and discussed the bilateral economic cooperation and the global macroeconomic situation.

The finance minister also made the offer to set up AIIB branch in India while addressing the Board of Governors Session of the Annual General Meeting (AGM) of the bank headquartered in Beijing on Saturday.

Jaitley said that India has a huge unmet demand for investment in infrastructure and is preparing basket of projects worth USD 2-3 billion for AIIB funding in the areas of urban development, energy, urban transport, railways, inland waterways and water supply.


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