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INFRASTRUCTURE FUNDS * India - Plans $11 Billion Road Fund to Narrow China Gap
(Video from YouTube, by vaghelabd —28 Dec 2009: Condition of Rural Road in interior of Surendranagar District of Gujarat India must improve)
Mumbai,India -Businessweek/Bloomberg, by Unni Krishnan and Santosh Kumar/Anil Varma (Mumbai) & Kartik Goyal (New Delhi). Editors: Abhay Singh, Sam Nagarajan -May 14, 2010: -- India, ranked below war-ravaged Ivory Coast for the quality of its infrastructure, is planning to set up a 500 billion rupee ($11 billion) debt fund to build ports, roads and bridges needed to drive economic growth... India doubled its target for infrastructure spending to $1 trillion in the five years starting 2012 to narrow the gap with China, the world’s fastest growing major economy. India spent 6.5 percent of its gross domestic product in 2009 on infrastructure, compared with about 11 percent by China, according to an Ernst & Young India report. Failure to lift investment may imperil Prime Minister Manmohan Singh’s target of boosting economic growth to 10 percent needed to pull 828 million people living on less than $2 per day out of poverty...
Labels: infrastructures funds
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