Govt focused on infra development, but pvt role is key: Montek

Says Cabinet Committee on Investment which was set up last year has the objective of giving speedy clearances to infrastructure projects

The government is focused on developing infrastructure in the country and it cannot be done without the help of private sector, Planning Commission Deputy Chairman Montek Singh Ahluwalia said today.

"Government doesn't deny that this is a complex area. Infrastructure is the key thing we should be focusing on. In the 11th Five-Year Plan, we were clear that infrastructure is very important.

"Given the limited resources available with the government, the kind of infrastructure we need cannot be delivered if we rely on the public sector alone," Ahluwalia said while addressing a session on 'Infrastructure Jinx' at the ET Now India Economic Conclave here.

He said in the infrastructure sector some very important things have been done and there have been some major success too.

"In the key areas of infrastructure some very important things have been done. There have been some very major successes. For example, private investment in power generation is a huge success."

Ahluwalia said the Cabinet Committee on Investment which was set up last year has the objective of giving speedy clearances to infrastructure projects.

"There was a need for special problem solving mechanism and it was recognised last year and the government set up the Cabinet Committee on Investment (CCI)...Out of 330 projects, at least 150 projects have got these regulatory clearances," he said.

He said this is a time of financial challenge and investors are constrained to invest in projects but things would improve.

"But it is happening at a time when the financial system has chocked up, not just globally...People over invested and many of them are finding themselves now constrained...But with these clearances (of projects), I think other things would stabilise and we would move forward," he added.