The Prime Minister Dr.Manmohan Singh today called for complete transparency in awarding of the highway projects to eliminate the possibility of favouritism or crony capitalism. Addressing a conference of Public Private Partnership (PPP) in National Highways, he said that the government is envisaging an investment of 1 trillion dollars in infrastructure sector during the 12th Five-Year Plan . Dr.Singh said that the public interest must be foremost while implementing these projects .He exuded confidence that economy has the resilience to live up to challenges that lie ahead.Moreover, Dr.Singh said, that high level of investment in infrastructure sector is one of the important preconditions for achieving 9 per cent economic growth target during the 12th Plan. It is 8.2 per cent in the current Plan. Prime Minister further said that the government has been successful in attracting large volumes of private investment in the road sector.He said that contract awards exceeded about 4,800 kilometers in 2010-11, and the Road Transport and Highways Ministry is well poised to award of 7,300 kilometer this year, to fulfil government's resolve to build 20 kilometer a day. Prime Minister asked the Ministry to accelerate this programme to increase the reach of the National Highway Devolpment Projects across the country. Talking about the financing constraints faced by infrastructure projects, Dr.Singh said the Finance Ministry is also taking the initiative to set up Infrastructure Debt Fund to enhance the flow of the much needed long-term debt in infrastructure projects. He said financing an ambitious highways programme will no doubt require substantial resources and some parts of the network can only be developed through public investment.The Prime Minsiter said that India has attained the second rank globally among developing countries in attracting private investment for infrastructure projects.
News On AIR | September 12, 2011 6:54 PM
PM calls for complete transparency in awarding highways projects