Mumbai: To tap the rapidly-growing impetus for world-class infrastructure in India, and actively participate in the country’s infrastructure transformation, state-owned Housing and Urban Development Corporation (HUDCO) is targeting more than Rs 3 lakh crore infrastructure funding by 2030.
“Infrastructure development is the key engine of economic growth, and India is enjoying an improved macro-economic environment, and policymakers led by the PM Narendra Modi rightly examine the economics of 1.4 billion people. We, at HUDCO, are committed to actively participating in the nation’s core infrastructure development activities through funding. We target a funding of over Rs 3 lakh crore in the infra sector by 2030,” HUDCO CMD Sanjay Kulshrestha told The Free Press Journal.
The country has made remarkable progress in infrastructure development over the past 10 years. India is a land of opportunities for all, its vast potential still remains untapped. The infrastructure investment in India has grown exponentially, with FY2025-26 budget allocations rising to Rs 11.21 lakh crore. India will soon be the world’s third-largest economy, over-taking Japan and Germany, driven by macroeconomic stability and purchasing power parity. The size of the domestic economy is expected to hit $10 trillion by 2030.
“The highlights of operation in Maharashtra include financial assistance of over Rs 90,000 crore sanctioned for 1,248 projects, where over Rs 27,000 crore has already been disbursed by March 31, 225.
We signed an MoU last month with MMRDA for providing financial assistance of up to Rs 1.5 lakh crore over the next five years for infrastructure development projects across the Mumbai Metropolitan Region,” HUDCO CMD, said.
Projects assisted in the recent years, Kulshrestha said, include 701 km long, 6-laned greenfield expressway from Nagpur to Mumbai where Rs 2,550 crore has been sanctioned, and approximately Rs 2,526.88 crore has been disbursed.
Infrastructure development not only pushes economic development but also helps the country create job opportunities, reduce poverty, and achieve the status of a ‘developed country’.
“As our slogan “financing infrastructure beyond housing” highlights, HUDCO has been financing core infrastructure projects aimed at boosting economic and social development projects, roads and highways, expressways, metro rail, power sector and green energy projects, hospitals, airports, etc.
“We continue to ensure project bankability, and our effective risk-allocation strategies and policies have been the most important factor which is reflected in our healthy loan-book of over Rs 1.24 lakh crore.
“We are further strengthening our role in the urban development sector by offering integrated solutions across critical areas such as waste management, water supply, sewage, drainage, land acquisition, integrated townships, industrial corridors, sustainable mobility, energy transition and port infrastructure. We are fully committed and geared up to supporting the government’s vision of Viksit Bharat@2047 as we join prestigious programmes such as PMAY-Urban 2.0, Urban Challenge Fund, Smart Cities, Amrut 2.0. SBM 2.0, and Jai Jeevan Mission, as the government is consolidating the progress made so far and building on it,” emphasised Kulshrestha.
