The writer is senior fellow, Centre for Policy Research
No road to the $5 trillion economy
The entire contractual structure and regulatory framework in India needs to be revamped.
The NDA government has announced its intention to invest Rs 100 lakh crore in infrastructure over the next five years. If we grow at 12 per cent in current prices, as has been assumed in the Union Budget, the cumulative GDP over the five-year period would be about Rs 1,350 lakh crore. So, we are talking about investing 7.5 per cent of GDP in infrastructure — about the same as in the last five-year plan. And, they did not have a nine, maybe 10-rupee infrastructure cess on fuel. One can thus expect this target to be easily met.
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