Cabinet clears $1 tn infra investment plan

Union Minister for Urban Development and Parliamentary Affairs Kamal Nath informed that the cabinet has approved an expenditure of $1 trillion in the next five years on infrastructure development and 40 per cent would come from private sector.

The minister also informed that a three-day Seminar would be held in Delhi on the Infrastructure Development shortly.

He said this to the members of the Indian Journalists Association at the India House. The minister recently held two rounds of meetings with British investors.

At the Round Table meeting, Nath said India has decided to built Metros in all cities with a population of more than two million.

Earlier, the ministry signed a Memorandum of Understanding with the Department for Business, Innovation and Skills, UK on Co-operation on Urban Regeneration and Development.

Kamal Nath also met the Mayor of London Boris Johnson yesterday and discussed among other things "heritage protection management".