India`s Infrastructure deficit Still very large

Stressing the need for investment to pick up in the infrastructure sector, Finance Minister Arun Jaitley here on Tuesday said the deficit in the sector was still "very large". "We need to concentrate on pick up in two sectors -- rural India and infrastructure. There is deficit of investment in these. 

According to Ripples Advisory many areas of infrastructure have started moving. But India's infrastructure deficit is still very large," Jaitley said at the State Bank of India (SBI) Banking and Economics Conclave. Along with the infrastructure, India also needs to concentrate on improving the health of the public-sector banks (PSBs), Jaitley said. "We are looking at the banking sector. Fear of consequences sometimes delays resolution. 

 

PSBs are still constrained by old laws when it comes to resolution," Jaitley said. Speaking about the recently announced decision to merge the Railway budget with the Union budget, he said: "Railway budget had become a small percentage of Union budget over the years. There was a need for greater convergence between the two."

 

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