India plans to invest $1.39 trillion in infrastructure to spur economy
NEW DELHI (Reuters) - India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country's economy.
Nirmala Sitharaman's comments, as cited in local newspapers, followed data released on Friday that showed India's economic growth slowed to 4.5% in the July-September quarter - its weakest pace since 2013 - upping the pressure on Prime Minister Narendra Modi's go nment to speed reforms.
"A set of officers are looking into the pipeline of projects that can be readied so that once the fund is ready, it could be front-loaded on these projects," Sitharaman said at a business summit in Mumbai, the newspapers reported.
"That task is nearly completed. Before December 15, we will be able to announce frontloading of at least ten projects," she said.
Modi came to power in 2014 on the promise to improve India's economy and boost foreign investments, but he has struggled to meet those aims due to a lack of structural reforms. Modi won a second term in May and has taken various measures since 2014 to spur growth, including cutting the corporate tax and speeding up privatisation of state-run firms.
But several economic indicators show domestic consumption is weak, and many economists expect the current slowdown could persist for another two years.
($1 = 71.7700 Indian rupees)
在印度地方报纸援引西沙拉曼的言论发表之前，周五公布的数据显示，印度经济增长在7 - 9月这一季度放缓至4.5%，这是自2013年以来的最低增速，这加大了总理纳伦德拉·莫迪领导的政府加快改革的压力。
译文来源：三泰虎 http://www.santaihu.com/48893.html 译者：Joyceliu
Wow, invest in infrastructure to boost and strengthen the economy, what a novel idea. In case anyone has lost track, our global competitors the Chinese have been investing in a first class modern infrastructure system for years. When is our go nment going to get off of the stick? Didn't the chosen one tell us that infrastructure was going to be one of his priorities?
Indian workers wear sandals when they build rail tracks, I have seen.
Everybody knows you don't use that kind of money to build infrastructure. You give it to billionaires so they can put it in their accounts in Panama.
Toilets for everyone are good project to start
If they want to boost tourism, which brings in revenue, the go nment should provide universal deodorant coverage to its citizens.
All or most of the projects will go for the Gujarati businessmen and billions of dollars will change hands as commissions. But the common folk will be very very happy with Modi because he got them a mandir and he revoked Article 370.
Josh Shalom Oppenheimer
that's not even enough to build 1 million toilets
Gimmie Free Stuff
A better idea would be to use those 100 trillion rupees to provide underarm deoderant for everyone.
America should have done that instead of giving the top 1% a $1.5 TRILLION tax cut
Overpopulated . it is officially world's most populated nation.
How many coal powered electric plants will they build?
But, although they contribute over 30% of the global pollution, they can't share their fair share of the cost to curb global warming.
Toilets for everyone, running water, sidewalk, street lights, street sweepers, water filtration plants, educating folks on driving etiquette, yielding to emergency vehicles is a good start.
India is investing 1.39 trillion dollars in infrastructure, but my tax dollar is supposed to be given to them to fight climate change.
First spend money on clean water, good hygiene, Sanitation improvements, getting rid of raw sewage canals on every nook and corner of major cities producing a horrible stench and clean air directive. After these are taken care of focus on highways and all other tall objectives
Will not work. You want to spur economy? Lower regulations, it works every time.
Let us all hope that a good portion of that sum will go toward the purchase of soap...
That's a lot of money. Prediction: A relative few will reap a fortune from graft, collusion and co ption, and the country will remain the same over-populated, polluted, impoverished stinkhole it's always been.
1.39T divide by 1B people = $1,390 per person and it is spread into 5 yrs. So per person = $1390/5 = $278 per person per year - not a lot of money to build things.
1.39万亿除以10亿人=每人1390美元，分摊到5年。因此，每人每年= 1390美元/5 = 278美元——这点钱要建东西可真不算多。
The IAS officers sitting at various departments hold the key. They do not release the money unless they get bribes. An American company was given the contract to build a power plant. The periodic payment required by the contractual agreement were withheld repeatedly.
Are they installing indoor plumbing and filling in the gutters?
A null sects
Are they going to build 7-11’s in every street corner?
Toilets included in the infrastructure spending?
Is that dot on her forehead a target
What India needs is to discover birth control. One in seven people on Earth are Indians. Enough already.
TOILETS, SEWAGE TREATMENT PLANTS, GARBAGE CLEANUP? PROBABLY MORE WEAPONS THAN ANY OF THESE USEFUL PROJECTS.
Projects will be diverted to BJPee's supporters so they can channel donations to BJPee.
my Indian friends investment to infrastructure and equal education is wise