Modi’s hardest challenges to boost Infrastructure

In May 2014, BJP under the leadership of Narendra Modi emerged victorious from the largest democratic election. This decisive margin of success gives Narendra Modi enormous leeway in seeking after his approach plan, which incorporates reviving the Indian economy.

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In an effort to improve India’s economy, the BJP government has set a massive target of investing USD 500 billion in the nation’s infrastructure. This incorporates roads, power, ports, railways, water, airports, irrigation, gas, storage and telecom. However India has consistently missed such targets over the last many years.

As we all know, infrastructure plays a key part in empowering economic growth. In perspective of India’s aggressive growth plans, the government is expected to review issues of private sector privatisation, tariff policy, budgetary allocation, public-private partnerships (PPPs) and fiscal incentives.

There are numerous issues that need to be tended in diverse infrastructural fields. In the first place, the gap between power production and demand is influencing both manufacturing and overall growth.

The transport sector is another concern for the government; while road transport is the foundation of the Indian transport infrastructure, it is lacking regarding quantity, quality and integration.

Furthermore, ports and civil aviation desperately require modernisation. It is anticipated that the public sector will continue to play an essential role in building transport infrastructure. On the other hand, resources needed are much bigger than what the public sector deliver.

To prove the endeavours, Modi brace the Indian economy with his foreign policy. He has underlined the significance of economic diplomacy to support trade ties and invite foreign investment into the nation. For this, Modi revitalizing its partnership with the United States, strengthening India’s ties with its South Asian neighbours and managing its relationship with China.

However, India may not achieve its desired objective in a straight line or in the timeline that Modi has set for it, yet chances are really great that it will turn into a main player in the financial and geopolitical circles reasonably soon.