(a) whether the infrastructure growth rate has decreased to 4.4 per cent in the first half of the current fiscal year as compared
to 5.3 per cent during the corresponding period of last fiscal
year;
(b) If so, the details thereof and the reasons therefor;
(c) the expected growth rate for the current year; and
(d) the steps taken to accelerate growth in infrastructure sector?
Minister of State in the Ministry of Finance (SHRI S.S. PALANIMANICKAM)
(a) to (d) : During April-September, 2005, six core-infrastructure
industries, comprising of crude petroleum, petroleum refinery
products, coal, electricity, cement and finished (carbon) steel,
registered a growth rate of 4.4 per cent as against 5.3 per cent
in the corresponding period of the previous year. Crude oil and
petroleum refinery products registered a decline in production
compared to the corresponding period of the previous year owing
to, interalia, the fire accident at Bombay High during the last
week of July, 2005. Electricity generation and coal registered a
decrease in the growth rate during April-September, 2005 as
compared to April-September, 2004. As infrastructure is
interrelated with various sectors of the economy, no single
growth rate has been visualized for the infrastructure
sector during 2005-06. Infrastructure development requires large
investments for which public private partnerships (PPPs) have
been visualized in addition to public investment. A Committee
on Infrastructure under the chairmanship of Prime Minister has
been constituted to expedite and streamline infrastructure
projects and reforms. The Government has recently taken a
decision to set up a Special Purpose Vehicle (SPV)
for providing long term debt to infrastructure projects.