India needs a ‘stable policy framework’ to bring in private investments for developing urban infrastructure which faces a fund shortage of $ 110 bnn, says a report released on Monday. The World Economic Forum (WEF) report said India needs more than $ 640 bn investments between 2012 and 2031 to deliver basic infrastructure for the country’s growing urban population.
With 410 mn city dwellers, India has the world’s second largest urban population, it noted. Suggesting various measures to boost urban infrastructure development, WEF said the government should look at having a ‘stable policy framework’ to ensure inclusive urban growth. There is an estimated $ 110 bn funding gap that could hinder India’s ability to provide basic urban infrastructure and services to its rapidly growing urban population,” the report said. According to WEF, there is a need to create a stable policy framework for private investment in urban infrastructure.