India to Spend More on Power, Roads to Spur Growth

Feb. 28 (Bloomberg) — India’s government will increase spending on power plants, roads and ports to help boost annual economic growth to 10 percent and challenge China as the world’s fastest-growing major economy.

Power generation capacity will expand by about 40,000 megawatts in the next three years, with 15,000 megawatts being added in the year starting April 1, Finance Minister Palaniappan Chidambaram said in his budget speech to lawmakers in New Delhi today. Roads are being built at a rate of 4.48 kilometers a day.

Bloomberg