(AsiaNews/Agencies) - India will build new highways, ports, airports and other
infrastructures to kick-start the country's economy. "In these difficult
times, we must do everything possible to revive investment and business
sentiment, both public and private," Prime Minister Manmohan Singh said.
years of great expansion, 2012 began uphill for India. The economy grew at the
slowest rate since 2003 in the first three months of 2012, because of a
widening trade gap and poor investment.
should come into effect in this fiscal year and be completed by 2017 with about
US$ 1 trillion infrastructure spending.
include 9,500 km in new roads, three new airports in Navi Mumbai, Goa and
Kannur. Five airports in Lucknow, Varanasi, Coimbatore, Trichy and Gaya are to
be upgraded to international standard. Two new aviation hubs are planned to
make India a major transit point. Two new ports should be built in Andhra
Pradesh and West Bengal.
challenge now is to work together to achieve these targets, and deal with all
the bottlenecks that may come in the way," Singh explained.
would urge all the ministries to go the extra mile in implementing what we have
planned," he said. "I would expect them to very expeditiously resolve any
inter-ministerial differences or turf battles that might arise."
government is facing one of its most challenging periods since taking office in
2004 as it grapples with a trade deficit, elevated inflation, a budget
shortfall and corruption scandals.
hope is that these plans will attract new investments and boost support for the
government ahead of the 2014 parliamentary elections.