A World Bank report stated Monday that India would need to undertake investments worth $480 million in the next 15 years to refine its urban infrastructure to cater to its fast-growing population.
The report titled 'Financing India's Infrastructure Needs: Constraints to Commercial Financing and Prospects for Policy Action' put up a host of policy motions like becoming a more steady, formula-based, and outright fiscal transfer control at the state and central levels for urban local bodies. It also put forth a reliable system like a Cities Investment Support Unit.
This unit can administer infrastructure finance to serve states and cities within regulatory reform, transaction preparation, and enactment of private financing and private-public partnership transactions.
The report highlighted the necessity to enhance finance for India's urban local bodies, involve the private sector more in project execution, and improve revenue streams through more private and commercial investments.