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Infra spending by States must rise: Crisil
Why is it in the news?
- The rating agency Crisil cautioned that infrastructure investments by States need to rise to ₹110 lakh crore over the next decade (fiscal 2021-2030).
More in the news
- Why Infra spending needs to go up?
(1) The ‘centre’ of gravity of infrastructure spending now shifting to the States.
(2) The fiscal squeeze, as seen in persistent revenue deficits.
(2) Debt surge and high fiscal deficits in several large States, could potentially limit the expansion of their investment capacity in the coming years.
- As per crisil, the infra spending should be rise 3.5 times an estimated ₹32 lakh crore in the current decade, if India is to achieve its mammoth infrastructure build-out targets.
Source
The Hindu.