The Prime Minister today called for an action plan for raising investments to the tune of 1000 billion dollars required for infrastructure development in the 12th plan period. Speaking at a conference on challenges and opportunities on building infrastructure, Dr Manmohan Singh said this would require large mobilization of resources through financial institutions. <br/><br/>He said, the government has developed a robust framework for public-private participation in the area of infrastructure development. He said private participation can help in expanding infrastructure much faster than if it totally depends on public resources. <br/><br/>He also asked the Centre and the States to give top priority to the implementation of infrastructure development and setting targets for the same and called for tight monitoring of the implementation of infrastructure development in the states.<br/><br/>Stating that an 8.5 per cent growth in 2010-11 and 9 per cent growth is expected in 2011-12, Dr. Singh exuded confidence that the 10 per cent growth rate is not impossible to achieve. The Prime Minister said that to eliminate poverty and provide productive employment for the country's young population, there is a need to speed up the pace of growth to 10 per cent and this is the growth target that the country should be working towards in the 12th Plan period.<br/><br/>Speaking at the conference, the Finance Minister, Mr. Pranab Mukherjee said that the private as well as public sector will be allowed to raise resources by issuing long-term infrastructure bonds carrying tax benefits.<br/><br/>The Budget for 2010-11 had proposed to exempt investment up to 20,000 rupees in long-term infrastructure bonds from income tax. Cabinet ministers of Power, HRD, Health, who participated in the day-long conference called for public-private partnership for infrastructure development.<br/>