Aiming at an annual 10 per cent growth, Prime Minister Manmohan Singh on Tuesday said investment in infrastructure sector should be doubled to an ambitious USD one trillion (Rs 41 lakh crore) during the 12th Five Year Plan ending 2017 from the current level.

Asserting that a successful infrastructure development strategy would depend critically on implementation, he said, "I urge the Finance Ministry and the Planning Commission to draw a plan of action in achieving this level of investment."

He underscored the need for private participation for achieving the one trillion dollar investment target, which is four times that in the X plan and double that of the XI, but said lack of financial viability of many of the projects could come in the way. "The Central Government has dealt with this problem by offering a capital subsidy, which is completely determined through the bidding process," he said, adding that this viability gap funding process could be accessed by states as well. Singh said a growth rate of 10 per cent, though ambitious, was not impossible and would hinge on "continual improvement in our policy regime and our implementation procedures.