US can participate in 1 tn infra investment: Montek

Ahluwalia,who participated in the conference along with the visiting US Treasury Secretary,Tim Geithner,also exuded confidence that Indian economy can grow at a faster pace and 8220;9 to 10 per cent is achievable8221;.

Of the proposed investment of USD 1 trillion in the infrastructure sector during the 12th Plan,he said,private sector would be expected to contribute up to 40-50 per cent.

8220;Private investments of one trillion dollar during 2012-17 will be somewhere between 40 and 50 per cent,8221; he said.

8220;In the 11th Plan 2007-12 we had said USD 500 billion for five years period. The Prime Minister has directed us to aim at one trillion dollars during the 12th Five-Year Plan,8221; he added.

On prospects of growth,Ahluwalia said that with adequate resources,investment and financial sector reforms it was possible to achieve high growth rate.

India8217;s growth rate,which slipped to 6.7 per cent during 2008-09 following the global financial meltdown,is estimated at 7.2 per cent during 2009-10 and is slated to move up to 8.5 per cent during the current fiscal.