According to the data provided by CRISIL, India’s investments in infrastructure will rise to Rs 143 trillion between financial years 2024 and 2030.CRISIL also stated that the per capita income is seen rising from $2,500 to_______ by fiscal 2031, creating a middle-income country.

Solution

  According to the data provided by CRISIL, India’s investments in infrastructure will rise to Rs 143 trillion between financial years 2024 and 2030. It will be more than twice the Rs 67 trillion spent in the past seven financial years.  CRISIL estimates India to be the fastest expanding large economy with an average gross domestic product growth rate of 6.7 per cent through FY31.  Per capita income is seen rising from $2,500 to $4,500 by fiscal 2031, creating a middle-income country.    According to CRISIL’s assessment, prominent sectors, such as roads and power are expected to remain major contributors, while relatively nascent ones, such as electric vehicles (EVs), solar, wind, and hydrogen are expected to grow gradually.  EV share in India’s overall automobile sales is likely to reach 30 per cent by 2030. Meanwhile, EV two-wheeler sales are expected to outpace other segments by 2028.  The hydrogen sector is poised to attract substantial investments, estimated at Rs 1.5 trillion between FY2024 and FY2030.