Xinhuameng, August 25 (Reporter Zhang Dongbuy) India Modi plans a financial plan to start infrastructure construction of 10.33 billion rupees (approximately equivalent to 135 trillion U.S. dollars). India is currently implementing this plan, the main purpose is to boost the domestic economy and increase employment. At the same time, the plan can also be exported to the government to promote manufacturing and increase major supporting measures in the field of infrastructure. , Also said.
Infrastructure: One reason for India to start the economy
In the long run, the main driving forces for India's expansion and growth include consumption, exports, private investment and public. But at this stage, India has the main driving force for export growth and continues to grow.
The final increase in exports has become the biggest highlight of the Indian economy at this stage. The biggest bright spot of the Indian economy. The biggest bright spot of the Indian economy. The biggest bright spot of the Indian economy. The biggest bright spot of the Indian economy. The biggest bright spot of the Indian economy. The biggest bright spot of the Indian economy. The biggest bright spot of the Indian economy. From April to June, India’s social exports reached 93.5 billion U.S. dollars, an increase of 86% compared with the same period last year, and an increase of 17% compared with the same period in 2019 before the epidemic. In July, India’s exports reached a record 35.17 billion U.S. dollars, an increase of 48% compared to the same period last year, and an increase of 34% compared to July 2019. Goyaya, Minister of Commerce and Industry of India. Er said that in the fiscal year (April 2021-March 2022), India has achieved a memory goal of US$400 billion.
But despite this, relative to the size of the Indian economy, India has the ability to rely on growth. India’s export volume to GDP ratio is basically stable at 10-12%, and even less than 10% in some years. In the 2019-20 fiscal year, India’s merchandise exports amounted to US$3,133, which is 11% of the US$2.85 trillion GDP that year. Relying on consumption is like a small horse and a big economy, it is incomparable.
Abroad, some other parts of the Indian economy may have gone into flames. Especially the absolute main force of domestic consumption growth. Studies have shown that India’s domestic consumption contributes 70% to India’s economic growth. Consumer confidence in India has not changed significantly from May this year, rising from 48.55 in May this year to 48.6 by chance. India's consumer confidence index in May was the lowest point in history.
As the desire for life consumption is not strong, private investment in India has also been suspended. Affected by the epidemic, India's service industry purchasing managers index (PMI) in July was 45.4, reappearing in a state of movement. Delima, chief economist of IHS Markit’s Indian market, is very important because there is no oral disease in the epidemic, and the number of domestic buyers in India is increasing. Since July last year, Indian entrepreneurs have misled their confidence in the future. As the service industry affects the Indian economy, the sluggish service industry will affect the overall Indian economy.
In the case of public Harry, boosting the Indian economy can only rely on government investment. India's 100 economic blue-movement infrastructure investment is ushering in once, and it has become the main option for the Indian government to pull.
Promote the development of infrastructure
Although India uses infrastructure as a tool to promote the economy, it can still be seen from India's choice of infrastructure that India is well thought out.
India has not specifically announced the main content of infrastructure, but the statements of relevant Indian government departments show that these infrastructure will mainly include the following aspects:
First, railway construction.
Indian Minister of Commerce and Industry Goyaya stated in October 2019 that in the next 12 years, India will invest 700 billion U.S. dollars in railway construction, which will become the engine of India's economic growth, along with further development and reduction of logistics costs.
Second, highway construction.
The Ministry of Transport of India used road traffic in 2019, road investment in Indian highways in 2019, and road investment in India in 2019 increased to 300 million rupees (which will eventually increase to 300 million US dollars). It will reach 17 trillion rupees ($239 billion highway). In terms of construction, rural road construction will be fully utilized. India said that India will invest 802.5 billion rupees to upgrade 25,000 kilometers of rural roads, and at the same time, it will build 10,000 kilometers of rural roads. Large-scale infrastructure construction and rural rural logistics need to be provided by the rural agricultural processing industry, which turns into agricultural agriculture and increases farmers’ income.
Third, green energy construction.
The certain degree of Indian logistics industry involves complex logistics of government departments, and the cost remains high. India’s goal is to reduce logistics costs from the current 14% of GDP to less than 10% by 2022. India said that in the future, Sitalaman, the reform of the logistics industry will promote the growth of India's exports. India's exports in the 2018-19 fiscal year increased by 9.2%, and the export growth in the 2019-20 fiscal year was 9.2%. The year's exports did not increase, and the possible error was 4.8%. As for the borders of neighboring countries, exports increased by 10.55 percent in 2018-19. In 2010, Mumbai’s clothing exports reached 40 billion U.S. dollars, equivalent to 14.36 billion U.S. dollars.
At the same time, India has proposed to achieve energy independence by 2047, and the strengthening of green energy construction at this stage is accompanying. India suddenly proposed to achieve GW of renewable energy development goals by 2030, and has already completed 100 GW. At the same time, Modi will not enter the northern hemisphere energy manufacturing center to achieve India's carbon earth goal in global climate change.
It can be said that these 10 crore infrastructure investments in India not only make up for shortcomings, but also focus on the future.
Can India accomplish this infrastructure goal?
India wants to invest 100 US dollars in the construction field, which is nothing new to people in India's politics in these years.
As early as India's independence in 2019, Modiman planned to invest 10 billion rupees in infrastructure construction. India intends to formulate and cancel key parts of this plan. India's Minister of Future Investment Sitara 2019 finally announced 10 major infrastructure projects. These 10 major infrastructure projects are 20,225 infrastructure projects in India. As the key to the construction of 100 trillion trillion infrastructure. But for the epidemic, these infrastructures are basically reserved. The status of the plan is on Independence Day in 2020. , Modi has a similar expression.
Therefore, in India, when Modi once again proposed plans on this year's Independence Day, but watching the opposition party's counterattack, "he (Modi) will not have new plans, and these plans will not be implemented or implemented in the plan. He He said a lot, but never insisted. Now, by implementing three new agricultural laws, he has brought bad luck to farmers. Horse leader Kajun Harger said.
Regardless of politics, in India's current financial situation, under the current financial situation of India, it is not easy to complete the infrastructure construction of 100 billion rupees. In terms of investment profits, the future investment amount of 510 billion rupees in the future is only 1.1 trillion US dollars in infrastructure investment in the 10 years from 2008 to 2017 in the past 10 years. In 5 years, India’s infrastructure investment plan is 1.35 trillion US dollars. 100 trillion rupees in the next 5 years. In the infrastructure plan, the average annual infrastructure investment needs to reach 20 trillion rupees, which is more than four times the infrastructure investment in 2011.
Judging from India's current financial situation, the Indian government supports adequate infrastructure plans. Due to the impact of the epidemic, the public health of the Indian government has risen fatally. In the 2020-21 fiscal year, India’s fiscal disability rate will be fatal from the planned 3.3% to 9.5%, and the percentage of government departments’ public affairs in debt will rise from an average of 70% in many levels to nearly 90%. In 2021, due to the second impact of the epidemic, India will still be unable to achieve its fiscal goals. India’s recent plan to benefit forecasts that the actual rate of India’s current fiscal year may reach 8%, but this forecast has recently been revised up to 8.3%.
Observers believe that the Indian government's increase in infrastructure construction is not only to drive investment, but also to promote economic transformation. The transition to an outward-oriented economy is the only way for the sustained and stable development of the Indian economy. Infrastructure construction such as roads and railways is crucial to the development of an export-oriented economy. , Will be the biggest problem.
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Post time: Aug-25-2021