Enhance infrastructure spending

26 JUL,2020 | MEDC


 

Pursuing the path of Atmanirbhar Bharat is going to necessitate an upward movement in infrastructure spending. The pandemic has led to a moderation in domestic demand, and this is the time to frontload infrastructure investment towards socially relevant avenues. There is a global supply chain realignment currently underway, and India should not miss this opportunity to position itself appropriately. India needs to reduce its reliance on imports from China and for that, we need to ensure that our internal infrastructure is up to the mark. Any attempt to challenge China in the manufacturing sphere will call for rapid and quality industrial infrastructure development. In this regard, India may need to enter into strategic partnerships with the Western World to make the country a global go-to market. Due to the prolonged lockdown, a contraction in domestic growth is expected this year, and unless we focus on the development of high-quality infrastructure, a sustained economic recovery looks difficult.

*Photo Credit: Google

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