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.