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India needs to use capital flows into infra:cbank deputy
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NEW DELHI |
NEW DELHI Dec 1 (Reuters) - India needs to find ways to use capital inflows for long-term investment in the infrastructure sector, Subir Gokarn, a deputy governor of the central bank said on Wednesday.
India expects to invest about $500 billion in infrastructure, mainly in power, telecommunications, roads, railways and oil pipelines in five years to end-March 2012.
The Indian government plans to double spending on infrastructure to $1 trillion in its next five-year plan, which runs from April 2012. (Reporting by Rajesh Kumar Singh; editing by Malini Menon)
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