Infrastructure remains a key area of investment: World Bank
Published on Mon, Dec 07, 2009 at 08:41 | Source : CNBC-TV18
Updated at Mon, Dec 07, 2009 at 11:15
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Infrastructure remains a key area of investment: World Bank
World Bank President Robert Zoellick met economic policy makers in Delhi over the weekend to discuss India's resilience in the global financial crisis.
World Bank President Robert Zoellick met economic policy makers in Delhi over the weekend to discuss India's resilience in the global financial crisis. Speaking to reporters after the meetings, Zoellick said that infrastructure remains a key area of investment over the coming years. "Given the vastness of India's market, some of the domestic strategies can drive a relatively strong growth strategy to try to move to higher levels of growth ‑ 9-10% ‑ that probably requires a healthier international economy. So, people are looking ahead as to what investments one needs to make today to be able to not only generate domestic demand but build a foundation for future growth and a core area is infrastructure."
On the Dubai debt crisis, Zoellick says the Dubai crisis can be contained and managed. "We don't see much impact of the Dubai crisis on the Indian economy."
Commenting on India's fiscal deficit, he says that fiscal expansion has helped growth in India. "Going forward, the Indian government is looking at fiscal consolidation."
