FM meets representatives of infrastructure sector amid economic slowdown

FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday met representatives of infrastructure sector, which is crucial for growth and job creation amid slowdown in the economy.

This is part of series of sectoral meeting, which began last month with the banking sector.

The representatives of the infrastructure sector expressed their issues and concern to the finance minister during the meeting.

In his Independence Day speech Prime Minister Narendra Modi had said the government will invest a massive Rs 100 lakh crore on developing modern infrastructure that will aid in nearly doubling the size of the Indian economy to USD 5 trillion in the next five years.

Emerging out of the meeting NHAI chairman N N Sinha said, the construction expenditure is more than last year.

"We are well on way of awarding the number we have set for ourselves. So far we have awarded road projects of 600 Km," he said.

HCC chairman and managing director Ajit Gulabchand said there is a need to make the sector more investor friendly.

During the meeting various concerns facing the sector was highlighted, including pace of execution of projects, financing and land issues, he said.

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