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Key Points

India's urban infrastructure sector is set for a massive boost with an additional Rs 10 lakh crore investment expected over the next four years. More than half of India's population will be living in urban areas within the next two decades, creating both challenges and opportunities. The government emphasizes that private sector participation is crucial for delivering effective urban services like water supply and metro rail. Prime Minister Modi has instructed states to prioritize RERA implementation as a major reform initiative for the real estate sector.

Key Points: India Urban Infra Gets Rs 10 Lakh Crore Boost Under Modi

  • Rs 10 lakh crore investment planned for urban infrastructure over four years
  • Over half of India's population will live in cities in two decades
  • Private sector involvement crucial for effective urban service delivery
  • PM Modi instructs states to make RERA a major reform initiative
2 min read

India's urban infra sector set for massive boost, Rs 10 lakh crore extra investment expected

India plans Rs 10 lakh crore urban infra investment as cities expand. Govt urges private sector partnership for water, metro, and housing projects.

"This change is both a challenge and an opportunity for the economy - Srinivas Katikithala"

New Delhi, Aug 30

India’s urban infrastructure sector is set for a massive boost, with an additional investment of Rs 10 lakh crore expected over the next four years, a key government official has said.

The cities are expanding at an unprecedented pace, and more than half of the country’s population will be living in urban areas within the next two decades, Union Housing and Urban Affairs Secretary, Srinivas Katikithala, said while speaking at the 17th annual convention of industry body NAREDCO.

This change is both "a challenge and an opportunity for the economy," according to the secretary.

He emphasised that spending in the sector has increased significantly over the last ten years, with Rs 30 lakh crore invested in urban infrastructure, up from just Rs 1.78 lakh crore between 2004 and 2014.

Under Prime Minister Narendra Modi's leadership, the urban sector has attracted a lot of attention and investment over the past 10 years. Contributing to this economic activity becomes our shared duty," he said to real estate developers.

Instead of waiting for connectivity to catch up to them, Katikithala advised developers to schedule their projects to coincide with future infrastructure expansion. "Don't wait for infrastructure to come after us.

He pointed to significant investments in water supply, sewage systems, metro rail, roads, and railroads, saying, "Let's pursue the areas where infrastructure is already going."

Additionally, he emphasised how crucial private sector involvement is to providing effective urban services.

The provision of services by local bodies alone is no longer sufficient. He stated that to guarantee high-quality services, the private sector must intervene.

Katikithala advocated for increased project registrations and appropriate training for registered brokers to strengthen adherence to the Real Estate (Regulation and Development) Act (RERA).

The secretary said that state chief secretaries had recently reviewed the Act's implementation with Prime Minister Modi, who instructed them to make RERA a major reform initiative.

He added that the ministry is collaborating with the CBDT to educate taxpayers about RERA, and that a parliamentary panel has also taken up the matter.

- IANS

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Reader Comments

P
Priya S
Great initiative but implementation is key. Hope this doesn't just benefit big cities but also tier 2 and 3 cities. We need balanced regional development across India.
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Arjun K
Finally some focus on sewage systems and water supply! Many Indian cities struggle with basic amenities despite being metropolitan. This investment should prioritize fundamental infrastructure first.
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Sarah B
As someone working in urban planning, I appreciate the emphasis on private sector involvement. Public-private partnerships could really accelerate development if implemented transparently.
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Vikram M
Hope they ensure proper monitoring of these projects. We've seen too many infrastructure projects delayed or abandoned halfway. Accountability is crucial for this massive investment.
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Michael C
The numbers are impressive - from 1.78 lakh crore to 30 lakh crore investment shows remarkable progress. Looking forward to seeing how this transforms Indian cities in the coming years!
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Ananya R
While infrastructure is important, hope they also focus on affordable housing. Many urban poor are being pushed to outskirts due to rising costs. Development should be inclusive for all sections.

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