Finance Minister Pranab Mukherjee has said that raising funds for infrastructure development is not a big problem. Addressing the Consultative Committee of Members of Parliament attached to his ministry on Wednesday evening, Mr Mukherji said, 41 lakh crore rupees have to be raised in the 12th Five-Year Plan and the buoyant economy is enough to take care of it. He said, the fiscal deficit will be brought down to 4.1 per cent of GDP by 2012-13. The minister added that progress has been made in the central government's flagship Bharat Nirman programme, which aims to upgrade rural infrastructure projects, such as roads, water, electricity and telecom connectivity. Mr. Mukherjee said that more than 30 per cent of the total expenditure on infrastructure during the ongoing plan period will be utilised for building and upgrading rural infrastructure. The Ministry of Rural Development has also taken steps to implement rural development schemes through the Public-Private Partnership (PPP) mode. Terming energy security as a focus area, Finance Minister said during the 11th Plan, power generation capacity would reach around 62,000 MW. He informed that 28,572 MW has already been added in the plan period so far, which is more than the entire capacity addition of 21,180 MW achieved during the 10th plan period. He expressed confidence that the measures taken by Ministry of Environment and Forests will expedite the process of granting clearance for time-bound projects.Mr. Mukherjee also called upon Members of Parliament to be involved in monitoring of schemes and projects funded by the central government.
News On AIR | October 28, 2010 11:27 AM
Raising funds for infrastructure development not a big problem: FM