Infra development key to halt global economic slowdown: Jaitley

India's FM Jaitley speaks at an Economist conference in New Delhi

By Accommodation Times News Service

Infrastructure development is the key to halt the global economic slowdown, Finance Minister Arun Jaitley said as he made a strong case for global investments in India to fill the huge infrastructure gap which requires over $1.5 trillion in the next 10 years.

“We have been able to sustain growth in the face of global slowdown essentially on the strength of the infrastructure creation in India where the gap is huge,” Jaitley, who is in China to attend the Board of Governors of the Asia Infrastructure Investment Bank, said.

“Over the next decade, we require over $1.5 trillion in India alone to fill up the infrastructure gap. We also use the additional resource which is available with us as a result of falling prices because that regime helps us,” he said, adding that the government intends to connect seven hundred thousand villages with roads by 2019 as part of a massive modernisation plan.

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