Raising funds for infrastructure development not a big problem: Mukherjee

NEW DELHI - Union Finance Minister Pranab Mukherjee has said that raising funds for infrastructure development is not a big problem, and added that progress has been made in the Central Government’s flagship ‘Bharat Nirman’ programme, which aims to upgrade rural infrastructure projects such as roads, water, electricity and telecom connectivity.

“Forty-one lakh crore rupees have to be raised in the 12th Five-Year Plan and the buoyant economy is enough to take care of it. Fiscal deficit will be brought down to 4.1 per cent of GDP by 2012-13,” said Pranab Mukherjee, while addressing the Consultative Committee of Members of Parliament attached to the Finance Ministry on Wednesday evening.

“More than 30 percent of the total expenditure on infrastructure during the ongoing plan period will be utilised for building and upgrading rural infrastructure. The Ministry of Rural Development has also taken steps to implement rural development schemes through the Public-Private Partnership (PPP) mode,” he added.

Pranab Mukherjee termed energy security as a focus area and said that during the eleventh Plan, power generation capacity would reach around 62,000 MW.

“28,572 MW has already been added in the plan period so far, which is more than the entire capacity addition of 21,180 MW achieved during the 10th plan period,” he said expressing confidence that the measures taken by Ministry of Environment and Forests will expedite the process of granting clearance for time-bound projects.

Speaking on the occasion, the Finance Ministers also called upon Members of Parliament to be involved in monitoring of schemes and projects funded by the Centre. (ANI)