Accelerate private investment in many critical sectors to achieve goal of ‘Viksit Bharat@2047’: Economic Survey

Accelerating private investment in critical sectors crucial for Viksit Bharat@2047, as government funding alone insufficient for infrastructure upgrade.

To meet the goal of Viksit Bharat@2047, private investment needs to be accelerated in many critical sectors as government funding alone cannot upgrade the required infrastructure, the Economic Survey 2024-25 has stated.

The document tabled in Parliament on Friday (January 31, 2025) stated that it is also clear public capital alone cannot meet the demands of upgrading the country’s infrastructure commensurate with the requirements of Viksit Bharat@2047.

Economic Survey 2024-25 LIVE

“We need to ensure increasing private participation in infrastructure by improving their capacity to conceptualise projects and their confidence in risk and revenue-sharing mechanisms, contract management, conflict resolution and project closure.

“The efforts of the Union Government would need to be supplemented with wholehearted acceptance of the need for public-private partnerships in infrastructure across the country. Equally important, the private sector must reciprocate, too,” the Survey, tabled by Finance Minister Nirmala Sitharaman, said.

Private participation should accelerate in many critical infrastructure sectors in many ways—programme and project planning, financing, construction, maintenance, monetisation and impact assessment, it suggested.

The document stated that India needs a continued step-up of infrastructure investment over the next two decades to sustain a high rate of growth.