India needs world-class infra for 9-10% growth: NITI Aayog CEO Amitabh Kant

NITI Aayog CEO Amitabh Kant on Thursday stressed the need for creating world class infrastructure to ensure that the country's economy grew at 9 to 10 per cent per annum continuously.

As part of derisking, the government should take up greenfield infrastructure projects such as road construction or airports and give them to private sector for operations and maintenance, he said at the 7th N J Yasaswy Memorial Lecture at the ICFAI Foundation for Higher Education here.

If India is to grow at the higher rate of 9 to 10 per cent over next three decade period of time it is critical that India has to create world-class infrastructure. India has not been able to create world-class infrastructure and the demand for infrastructure has outstripped supply, he said.

Kant said recently the Centre had sold as many as 15 road projects and gained $2 billion.

On the GDP growth front, he said the country needed to grow at 9 to 10 per cent per annum on a consistent basis year after year for the next three decades or more to bring the population above the poverty line.

He also highlighted thegovernment's structural changes such GST, Insolvency and Bankruptcy Code, Real Estate (Regulation and Development) Act, and the initiatives like BHIM App, Direct benefits transfer scheme, and Ayushman Bharat scheme.