States asked to explore investment avenues

$320 billion needed to develop big projects

Private initiative can usher in efficiency

NEW DELHI: Finance Minister P. Chidambaram on Thursday stressed that the country’s needs of a developed infrastructure could only be met through public-private partnership (PPP) as the investment to achieve this is required to be raised to eight per cent of the GDP from the current 4.6 per cent so as to sustain a growth rate of nine per cent during the XI Plan (2007-12) period.

Addressing the Parliamentary Consultative Committee attached to his Ministry here, Mr. Chidambaram urged the States to adopt the PPP model in view of the enormous investment needs which could not be met by the public sector alone.

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Posted by rjorr at September 7, 2007 5:56 PM