The Financial Survey 2024-25 has mentioned that a number of crucial sectors want non-public funding as authorities funding alone can not improve the required infrastructure to fulfill the objective of Viksit Bharat by 2047.
The Financial Survey cited the challenges in infrastructure (PTI)
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“We have to guarantee rising non-public participation in infrastructure by bettering their capability to conceptualise tasks and their confidence in threat and revenue-sharing mechanisms, contract administration, battle decision and undertaking closure,” the Survey, tabled by Finance Minister Nirmala Sitharaman, said.
It added that “the efforts of the Union Government would need to be supplemented with wholehearted acceptance of the need for public-private partnerships in infrastructure across the country. Equally important, the private sector must reciprocate, too.”
Private participation will accelerate many critical infrastructure sectors in many ways—programme and project planning, financing, construction, maintenance, monetisation and impact assessment, it suggested.
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India needs a growth rate of 8% at constant prices on average for a decade or two in order to realise its economic aspirations of becoming Viksit Bharat, the Survey said.
For this, multi-modal transport and modernisation of existing physical assets will improve efficiency and last-mile connectivity, it suggested.
Disaster resilient urbanisation, public transport, preservation and upkeep of heritage sites, monuments and tourist destinations, as well as rural public infrastructure, including connectivity, call for greater attention, according to the survey.
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“Our infrastructure programme helps quite a lot of PPP fashions like construct operate-transfer (toll and annuity), design-build-finance-operate-transfer, hybrid annuity mannequin and toll-operate-transfer,” it added.
The survey additionally said that an RBI’s report on non-public investments confirmed that funding intentions elevated to ₹2.45 lakh crore for the monetary yr 2024-25, as in comparison with ₹1.6 lakh crore in 2023-24.