Infra investment in 11th Plan to be $500 bn:Montek

The Planning Commission on Monday said investment in the infrastructure sector in the Eleventh Five-Year Plan (2007-12) will be close to the target of $500 billion, thanks to a better-than-expected show by the telecom sector.

"It does look as if we will achieve (investment in infrastructure sector) not fully, but very close to $ 500 billion...This will be primarily because of over achievement in telecom," Planning Commission Deputy Chairman Montek Singh Ahluwalia said ahead of the government-sponsored meet

The Commission had set a $500 billion target of investment in the infrastructure sector during the Eleventh Plan Period.

Replying to questions on growth prospects during the Eleventh Plan, Ahluwalia said it was likely to be 8.5 per cent in the next fiscal 2010-11 and nine per cent during 2011-12, the last year of the Eleventh Plan.

Following the global crisis, the growth rate during 2008-09 slipped to 6.7 per cent from over nine per cent during the three preceding years. It is estimated to be 7.2 per cent during the current fiscal.