'Corruption chokes India's infra potential'

[cyborg81]

NEW DELHI: India lacks sufficient cash reserves to finance its infrastructure wish-list while high corruption levels and bureaucratic hurdles have made international financing hard to come by, a study says.

"Unlike China, India does not have enough cash to self-finance its considerable infrastructure wish-list, although the country boasts of USD 190 billion in foreign exchange reserves to leverage project funding," global professional services firm Ernst and Young (E&Y) said in its latest report.

The report, which examines trends in infrastructure and finance, said these hurdles could block India's transformation from a third world country into a 'global powerhouse'.

Prime Minister Manmohan Singh had last year pegged the investment requirement for the infrastructure sector at USD 320 billion for the next few years.

Though India welcomes private investments through public-private partnerships allowing up to 100 per cent of foreign equity in projects, loopholes like weak regulatory controls and bureaucracy create delays and uncertainties besides adding to costs.

"Corruption in India has made international financing for infrastructure hard to come by; without it, India's infrastructure will remain stuck in the previous era," the report titled 'Infrastructure 2007:A Global Perspective' said.

However, the country's capitalist environment and strong legal tradition provide a solid foundation for growth and gives confidence to investors despite the evident impediments.

Besides tax exemption have also been enacted for infrastructure investments, it said.

The World Bank forecasts Asia's infrastructure needs at one trillion dollar over the next five years, led by emerging economic powers China and India.

http://timesofindia.indiatimes.com/C...ow/2095254.cms

[ravi4you]

Dear Friend,
corruption in india is only in Northern states,
south india is very much civilized and well mannered
people in south are litrate and intellegent.
That is why Nemma Benguluru is know as IT city ,knowledge city ,silicon valley in world.
we are building new big international airport and metro ,hundreds of IT parks ,
so please dont generalize whole india .
only north india is corrupt and poor
south is progressing more than china
ravi.n

[snow is red]

Originally Posted by ravi4you

Dear Friend,
corruption in india is only in Northern states,
south india is very much civilized and well mannered
people in south are litrate and intellegent.
That is why Nemma Benguluru is know as IT city ,knowledge city ,silicon valley in world.
we are building new big international airport and metro ,hundreds of IT parks ,
so please dont generalize whole india .
only north india is corrupt and poor
south is progressing more than china
ravi.n

Can you please keep China out of your indian discussion please ? Chinese section hardly mention India, so please do us a favour, do not bring China into your internal affairs.

[Pax Sinica]

Originally Posted by ravi4you

Dear Friend,
corruption in india is only in Northern states,
south india is very much civilized and well mannered
people in south are litrate and intellegent.
That is why Nemma Benguluru is know as IT city ,knowledge city ,silicon valley in world.
we are building new big international airport and metro ,hundreds of IT parks ,
so please dont generalize whole india .
only north india is corrupt and poor
south is progressing more than china
ravi.n

you are also doing the same thing by generalising whole China....

[itsmevishal2k4]

fellow ssc forumers

plz ignore this user as he is supposedly a troll. Please forgive him, and yes a lot of us SSC forumers do agree with this article.

we need to figure something out about this.
for example we need to possibly restrict terms, so politicians dont feel they have to keep votes on their side, they can just act for the best of the country.

[_00_deathscar]

Originally Posted by itsmevishal2k4

fellow ssc forumers

plz ignore this user as he is supposedly a troll. Please forgive him, and yes a lot of us SSC forumers do agree with this article.

we need to figure something out about this.
for example we need to possibly restrict terms, so politicians dont feel they have to keep votes on their side, they can just act for the best of the country.

Bar the China comment, would you deny he has a point?

[Krups99]

Originally Posted by cyborg81

NEW DELHI: India lacks sufficient cash reserves to finance its infrastructure wish-list while high corruption levels and bureaucratic hurdles have made international financing hard to come by, a study says.

"Unlike China, India does not have enough cash to self-finance its considerable infrastructure wish-list, although the country boasts of USD 190 billion in foreign exchange reserves to leverage project funding," global professional services firm Ernst and Young (E&Y) said in its latest report.

The report, which examines trends in infrastructure and finance, said these hurdles could block India's transformation from a third world country into a 'global powerhouse'.

Prime Minister Manmohan Singh had last year pegged the investment requirement for the infrastructure sector at USD 320 billion for the next few years.

Though India welcomes private investments through public-private partnerships allowing up to 100 per cent of foreign equity in projects, loopholes like weak regulatory controls and bureaucracy create delays and uncertainties besides adding to costs.

"Corruption in India has made international financing for infrastructure hard to come by; without it, India's infrastructure will remain stuck in the previous era," the report titled 'Infrastructure 2007:A Global Perspective' said.

However, the country's capitalist environment and strong legal tradition provide a solid foundation for growth and gives confidence to investors despite the evident impediments.

Besides tax exemption have also been enacted for infrastructure investments, it said.

The World Bank forecasts Asia's infrastructure needs at one trillion dollar over the next five years, led by emerging economic powers China and India.

http://timesofindia.indiatimes.com/C...ow/2095254.cms

corruption in India is like a disease which is slowly eating up our country. It is prevalent in every part of our society. I agree, India has tremendous potential to become a global powerhouse only if right people are elected to lead our country to that stage. However, I believe India is slowly awakening to the problems that's why there are people who are working towards eradicating corruption, strengthening our social and physical infrastructure and helping elect the right leaders for India. I support the Nav-bharat political movement because it will Search, Identify, Short-list, Select and Help Elect the right leaders for India. It promises the brightest, capable and the most committed candidates representing us in the Assembly and Parliament. I'm sure every citizen loves their country and want to volunteer for its betterment. I hope you will visit the www.nav-bharat.org website and join in for your nation's progress.

[prake12WG]

plz ignore this user as he is supposedly a troll. Please forgive him, and yes a lot of us SSC forumers do agree with this article.

[normand]

Originally Posted by snow is red

Can you please keep China out of your indian discussion please ? Chinese section hardly mention India, so please do us a favour, do not bring China into your internal affairs.

Of course they do mention India a lot, you barely notice it because it's in Chinese

[nkim1587]

Can you please keep China out of your indian discussion please ? Chinese section hardly mention India, so please do us a favour, do not bring China into your internal affairs.