'Horribly Wrong': What Is Hurting India's $5 Trillion Economy Dream? DLF Chairman Urges Modi Govt To Do THIS

The Narendra Modi-led government has been steadfast in its vision of transforming India into a $5 trillion economy by 2030. Over the years, numerous reforms have been implemented to stimulate business growth and elevate the economy to unprecedented levels. However, an industry which feels ignored even after 10 years of the Modi government is real estate. 

Speaking to PTI on the occasion of the launch of his second book 'Why the Heck Not?', real estate doyen and DLF Chairman Emeritus K P Singh urged Prime Minister Narendra Modi to set up a high-powered cabinet rank committee to prepare a blueprint for the development of urban infrastructure in all major cities that can support $5 trillion economy.

Singh shared that the urban master planning should be for 100 years and not targeted at the short-term goals. Singh described the current state of urban infrastructure as 'horribly wrong' and said there was a need for 'drastic steps' as India is growing and soon going to become the third largest economy in the world.

Referring to traffic mess in cities including IT city Gurugram and high pollution level, KP Singh said these are large issues and 'it needs attention in my view of the highest person in the country'.

'Unless drastic actions are taken' the problem cannot be solved, he said. KP Singh said there is a need to change the thinking process which he said remains 'myopic' since the 1950s.

In his book, he said there is a need to focus on rapid development of urban infrastructure, including roads, sewage lines and water supply. "We must focus on rapid urban infrastructure development. The declining state of our cities is akin to a ticking time bomb signalling their devastation," Singh said in his book, co-authored with Aparna Jain and published by Penguin. (With PTI inputs)