New Delhi: In a major initiative to pump prime the economy through public expenditure, the government has decided to inject a whopping Rs50,000 crore for funding infrastructure projects.
“The plan is to spend Rs50,000 crore on infrastructure... its specific contours will be announced anytime,” Minister of State for Industry Ashwani Kumar said on Tuesday.
He said the money would be spent on projects that would be built through the Public-Private-Partnership (PPP).
Prime Minister Manmohan Singh on Monday chaired a meeting of a committee, which discussed further liquidity injection into the cash-starved Indian economy that has started receiving blows from the global meltdown.
Finance Minister P Chidambaram, Commerce and Industry Minister Kamal Nath, Planning Commission Chairman Montek Singh Ahluwalia and Reserve Bank Governor D Subbarao are part of the committee, chaired by the Prime Minister, which is keeping a close eye on the impact of the global slowdown on the Indian economy.