Finance Minister Arun Jaitley on Thursday said improved macroeconomic fundamentals have placed India on 7-8 per cent growth trajectory and the country needs big infrastructure investments over next two decades to evolve into a middle income economy and then into a developed one. The funding requirement for infrastructure in the country is huge and there is a requirement of a whopping Rs 50 lakh crore investment in the sector over next five years, he said. India has spent Rs 60 lakh crore in infrastructure during 2007-17. On infrastructure front he said, the Government has been increasingly raising allocation for development of the sector. In recent times, the Government has increased infrastructure spending, Jaitley said, adding that the Budget 2017-18 made allocation of Rs 3.96 lakh crore for the sector.