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India’s urban infrastructure would require an investment of $840 billion – that is, 1.18 per cent of the estimated GDP – over a period of 15 years till 2036, according to a World Bank report released on Monday.
The report, titled “Financing India’s Infrastructure Needs: Constraints to Commercial Financing and Prospects for Policy Action”, says India’s capital expenditure in urban infrastructure averaged 0.63 per cent of the GDP between 2011 and 2018.
Urban Local Bodies (ULBs) set up under the 74th amendment of the Constitution are administered to provide basic infrastructure services to people in urban areas.
