Govt likely to meet $500-bn infra investment target by FY15

The government is likely to meet the $500-billion infrastructure investment target by 2015 exceeding the fixed tenure by three years, a government official said.

"Due to the global (economic) meltdown, we may not be able to meet the target by 2012. But we will reach the target by 2015," Gajendra Haldea, who advises the Planning Commission on infrastructure, told PTI on the sidelines of an infrastructure summit here today.

India is targeting about $500-billion investment during the period in infrastructure projects such as road development and power production.

"We are trying for leveraging budgetary resources and multi-lateral assistance for public private partnerships (PPPs) in the country's infrastructure development," Haldea said.

"The private sector will now participate in infrastructure building and it will help to meet the target," he said.