Union Minister V K Singh on Wednesday said the infrastructure sector could play a mega role in bolstering the economy and the government is ready with a basket of highway projects worth Rs 15 lakh crore to be offered in the next five years.
He said infrastructure encompasses areas that can generate huge employment and kick off economic progress.
Regarding the slowdown in the economy, the Minister of State for Road Transport and Highways V K Singh said, it is a "temporary phase".
He noted that "the sector that is going to make a difference in ensuring that the recovery is fast and the recovery is big is the infrastructure sector - whether it is railways, whether it is road, whether it is airports or whether it is communication".
Addressing 'Infra Awards 2019' by Dun and Bradstreet India (D&B India), a provider of global business information, Singh said infrastructure encompasses areas that bolster the economy, generate employment and kick-off growth.
"We have a basket of approximately Rs 15 lakh crore projects which have to be given out in these 5 years that are coming up. These include economic corridors, port connectivity, connecting important places, SEZs and tourist places," he said.
He further noted that the role of infrastructure in reviving economic growth could be understood from the fact that this was the sector that pulled out the US from the great depression in the 1930s.
He said with the government's focus on infrastructure, it was possible to achieve the USD 5 trillion economy target.
Project award winners on the occasion included HCC for the Bogibeel rail-cum-road project and Larsen & Toubro for Nagpur Smart City Solutions Project.
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