Finance Minister Piyush Goyal on Monday said infrastructure development will need investments of $4.5 trillion over the next decade and the cost of the money could be a challenge. Goyal, however, said finding the required finance will not be a \u201cdeterrence\u201d for India.
\n\u201cInfrastructure creation requires $4.5 trillion in investments over the next 10 years,\u201d said Goyal at the Asian Infrastructure Investment Bank\u2019s (AIIB) two-day annual summit that began in Mumbai.<\/p>\n
The minister said the required funds will be available and raising it will not be a \u201cdeterrence\u201d for infra creation. However, in the comments that come amid rising interest rates globally, led by hardening of rates in the US, as also domestically, Goyal flagged the cost of finance as an \u201cimportant challenge\u201d. Capacity building to handle big infra projects is also a challenge, Goyal said. He said that multilateral institutions like the AIIB will help in both the challenges. Underlining the need for a stable policy regime, Goyal said in the last few years, things have changed for the better with tweaks on governance practices and decisive actions.<\/p>\n
\u201cMoney is safe in India, because the rule of law prevails,\u201d Goyal said. Goyal also said governments, both at the Centre and the states, have not defaulted on a single commitment on international borrowing ever.<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance Minister Piyush Goyal on Monday said infrastructure development will need investments of $4.5 trillion over the next decade and the cost of the money could be a challenge. Goyal, however, said finding the required finance will not be a \u201cdeterrence\u201d for India. \u201cInfrastructure creation requires $4.5 trillion in investments over the next 10 years,\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":35271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-35270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/35270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=35270"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/35270\/revisions"}],"predecessor-version":[{"id":35272,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/35270\/revisions\/35272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/35271"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=35270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=35270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=35270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}