Infrastructure industry raises concerns hounding the sector with FM

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New Delhi | Published: September 6, 2019 1:16:50 PM

Hindustan Construction Company chairman and MD Ajit Gulabchand said there was a need to make the sector more investor-friendly.

Finance Minister Nirmala Sitharaman, india infrastructure, infrastructure industry, indian economy, india gdp, economy slowdown, global economy, fastest growing economy After the meeting, NHAI chairman NN Sinha said the company was spending more on construction compared to last year.

Finance Minister Nirmala Sitharaman on Wednesday met representatives of infrastructure industries, as part of a series of meeting she is holding with various stakeholders in an effort to give a boost to the economy.

At Wednesday’s meeting, the attendees raised concerns facing the sector including pace of execution of projects, financing and land issues, source said.

After the meeting, NHAI chairman NN Sinha said the company was spending more on construction compared to last year.

“We are well on way of awarding the number we have set for ourselves. So far, we have awarded road projects of 600 km,” Sinha said.

Hindustan Construction Company chairman and MD Ajit Gulabchand said there was a need to make the sector more investor-friendly.

Over the last two weeks, Sitharaman has announced measures to boost the economy after her meeting with stakeholders including rolling back higher surcharge on income tax for foreign portfolio investors (FPIs) and merger of state-owned banks.

In his Independence Day speech, Prime Minister Narendra Modi had said the government will invest a massive `100 lakh crore on developing modern infrastructure that will aid in nearly doubling the size of the Indian economy to $5 trillion in the next five years.

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