Infra spend can be trigger for boosting growth: ICRA

At a time when the overall economic growth is slowing, Finance Minister Nirmala Sitharaman’s announcement of `102 lakh crore worth of investment in infrastructure projects over the next five years, can be a trigger for boosting growth, says ICRA.

According to the rating agency, the construction sector is likely to be a major beneficiary of this increased investment.

The finance minister on Tuesday announced the infrastructure project pipeline for the next five years that will help the country nearly double the size of the GDP to $5 trillion by 2025.

“Creation of the national infrastructure pipeline in a short span of time is a positive step. The distribution of the infrastructure investment is in line with our expectations with a major allocation going towards transportation, energy and water segments.