Discussing the progress made by Narendra Modi government at centre, Finance Minister Jaitley said that India has a massive infrastructure programme to refer to the Asian Infrastructure Investment Bank (AIIB) for funding.
Speaking to the Chinese Television, Jaitley said India which has undertaken massive infrastructure development programme will decide on which of the projects should be referred to AIIB funding depending on the availability of finances.
“India has a massive infrastructure programme which is going on. It covers railways, airport, sea ports, water supply, sewage, smart city creation, more urbanisation,” said Jaitley.
Established in 2015, AIIB has the authorised capital of USD 100 billion in which India and 56 other countries joined as founding members. China is the largest shareholder with 26.06 per cent voting shares. India is the second largest shareholder with 7. 5 per cent followed by Russia 5.93 per cent and Germany with 4.5 per cent.
Jaitley also responded on the impact of Britain exiting from European Union and said that India is “well prepared” to deal with medium term impacts.
Jaitley is attending the first meeting of the Board of Governors of the USD 100-billion Asian Infrastructure Investment Bank (AIIB) whose primary purpose is to boost infrastructure development.