Infrastructure is the backbone of any economy. But good infrastructure development needs good planning. Lack of planning is the biggest problem. China in comparison to India has shown better planning and flexibility while executing infrastructure projects. India has lagged behind due to its political system and populist outlook.
Tag: Backbone
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The infrastructure story is waiting to unfold
Infrastructure is the backbone on which the economic and social wellbeing of any country hinges. Though India has emerged as the third largest economy, its GDP growth rate slowed down to less than 5 per cent in FY 13-14, as against a CAGR of 8.4 per cent during 2003 - 2010.