India requires $1 trn for infra projects: Min

The Indian Government has said that the country requires USD 1 trillion for the development of new roads, ports and airports over the next few years. Commenting on the issue, Union Minister Nitin Gadkari told the media, “Upgrading infrastructure is a major challenge for policy makers of the Asia's third largest economy and India needs about USD 1 trillion (about Rs 67,00,000 crore) for new roads, ports and airports over the next few years.” “The NDA Government is set to transform India's infrastructure and there is no dearth of funds for this priority area. In the next five years we are going to change the infrastructure of this country. I know my work, I am doing it,” he added. As per reports, building of infrastructure would add 2 per cent to the India's GDP growth. As per reports, the Ministry is expecting additional Rs 15-20,000 crore in the Union Budget for 2016-17, over the current year's outlay of Rs 45,000 crore.