Title - PM's push to infra sector to boost confidence: CII

New Delhi : The CII today described the review meeting taken by Prime Minister Manmohan Singh on infrastructure development yesterday as extremely positive and encouraging.Commenting on the meeting, CII Director General Chandrajit Banerjee said at a time when the economy was going through a tumultuous phase, the review, re-emphasis and collective goal setting on infrastructure development for 2012-13 by the Prime Minister, was extremely positive and encouraging.The CII had been voicing concerns over the dwindling growth rate and shaky investors’ confidence for some time now and had strongly recommended a push to infrastructure development as a tool to create demand and sustain growth momentum.In this respect, the CII had particularly recommended the need for better coordination among different departments and ministries to speed up clearances and implementation. The meeting was a clear indication of the government’s commitment to improve coordination among different ministries to make infrastructure happen. This would certainly boost the confidence of the investors, the CII said.The announcement of flagship projects such as two new major ports, speedy progress on greenfield airport projects in Navi Mumbai, Goa and Kannur, development of 10-12 new PPP airport projects, target of awarding road projects of 9500 kms, bullet train between Mumbai-Ahmedabad and the target of capacity addition of 18000 MW in the power sector would enhance the flow of projects, bringing new life to the infrastructure sector, it said.