Arvind Panagariya: The turnaround in infrastructure
Be it roads, railways, ports, civil aviation, energy or electricity, the Narendra Modi govt has invigorated all these sectors since it took over
Abstract:
I recently wrote that the policy changes the Narendra Modi government has been putting in place promise to return the economy to miracle growth in the near future. Today, I document the turnaround in one important area - infrastructure. More will follow soon.
Let us begin with roads. The government has achieved a breakthrough, unblocking previously stuck road projects, while also accelerating the initiation of new projects. Of the total number of stuck projects worth Rs 3.8 lakh crore, this government has already unblocked Rs 3.5 lakh crore worth of projects.