Business News | Urban Infra Can Attract Rs 10 Lakh Crore Investment in Coming Years: Housing & Urban Affairs Secretary
Get latest articles and stories on Business at LatestLY. Srinivas Katikithala, Secretary, Ministry of Housing & Urban Affairs said that the Indian urban sector is expected to witness an investment of around Rs 10 lakh crore in the coming years for creating infrastructure.
New Delhi [India], August 30 (ANI): The Indian urban sector is expected to witness an investment of around Rs 10 lakh crore in the coming years for creating infrastructure, said Secretary, Ministry of Housing & Urban Affairs, Srinivas Katikithala.
He emphasised that housing would be one of the key components of this investment and urged the infrastructure industry to contribute proactively.
"The Ministry of Housing & Urban Affairs is at the centre of policymakers' focus, including the top political leadership of the country," he added.
Addressing the 2-day NAREDCO 17th National Convention in the national Capital, Srinivas Katikithala highlighted that urban infrastructure, including housing, remains a top priority for Prime Minister Narendra Modi, who continuously monitors the sector's progress.
He further pointed out that nearly Rs 30 lakh crore worth of investments have been made in urban infrastructure over the last decade, ensuring India's accelerated growth trajectory.
He called upon participants from the infrastructure sector to partner with government agencies and institutions to take this momentum forward.
He also indicated that necessary reforms will be introduced to further strengthen RERA in multiple states so that housing projects, particularly in the affordable housing segment, do not suffer delays due to registration issues.
Virtually addressing the convention, Tokhan Sahu, Minister of State for Housing & Urban Affairs, Government of India, said the infrastructure sector has been growing at a fast pace under the leadership of Prime Minister Modi, who is committed to ensuring its continued growth and contribution to the national economy. He also emphasised that the extension of RERA should be designed to create a "win-win" scenario for all stakeholders while meeting the government's objectives.
Speaking at the event, Sudhansh Pant, Chief Secretary, Government of Rajasthan, shared that nearly Rs 25,000 crore worth of infrastructure projects have been grounded in the last 7-8 months in the state. He expressed confidence that projects worth Rs 1 lakh crore would be grounded well before 2026, and invited industry stakeholders to explore Rajasthan as a destination for infrastructure investments.
G Hari Babu, President, NAREDCO, appreciated the government's efforts to strengthen the housing and infrastructure sectors, describing them as the twin engines of growth. However, he highlighted the need to multiply project registrations under RERA to accelerate housing momentum. He pointed out that in Delhi, only 123 projects were registered recently under RERA, compared to nearly 5,000 in Tamil Nadu and about 6,000 in Maharashtra.
Dr Niranjan Hiranandani, Chairman, NAREDCO, while felicitating senior government officials and policymakers, noted that the housing and infrastructure sectors have benefited from a proactive government approach in recent years. He urged the government to continue with forward-looking policies so that the objectives of various housing and infrastructure schemes are achieved effectively. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)