Begin typing your search...

Infra spend doubling to Rs 143 trn by FY30

Green investments account for Rs36.6 lakh cr: Crisil

Infra spend doubling to Rs 143 trn by FY30

Policy Push

Consistent policy, regulatory interventions supporting infra sector

♦ Focus on timely execution another major factor

♦ Infra continues to attract huge investments

♦ RE capacity may grow 4x during 2023-2030

New Delhi: India will spend nearly Rs143 lakh crore on infrastructure between fiscals 2024 and 2030, more than twice the Rs67 lakh crore spent in the past seven financial years starting 2017, rating agency Crisil said on Tuesday. Of the total, Rs36.6 lakh crore will be green investments, marking a five times rise compared with the amount spent during fiscals 2017-2023, it added.

“India’s infrastructure spending will double to Rs143 lakh crore between fiscals 2024 and 2030, compared with 2017-2023,” Crisil said in its Infrastructure Yearbook 2023. Crisil Ltd managing director and CEO Amish Mehta said the agency expects India’s gross domestic product to grow at an average 6.7 per cent through fiscal 2031 to be the fastest-expanding large economy. “Per capita income is seen rising from $2,500 now to $4,500 by fiscal 2031, creating a middle-income country,” he said, adding that this growth will be underpinned by massive all-round infrastructure development, with sharp focus on integrating sustainability.”

While releasing ‘Crisil Infrastructure Yearbook 2023’, which includes a unique national index Crisil InfraInvex, Mehta said policy interventions and a conducive investment climate have aided the uptrend in the Crisil InfraInvex scores across sectors.

“Four of these -- roads and highways, power transmission, renewable energy and ports -- have an overall score of 7-plus (out of 10), which underscores the pace of reforms and developments of the past few years,” he added.

The rating agency noted that the next phase of infrastructure development will be marked by growth in the average ticket size of projects and a significant number of mega-scale projects. Appropriate and consistent policy and regulatory interventions and focus on timely execution build an attractive case for various stakeholders to accelerate investments across infrastructure sectors, Crisil said.

Bizz Buzz
Next Story
Share it