Prime Minister Narendra Modi’s reformist, but hard-up government has begun a splurge on road and rail building that analysts say could remove doubts over whether economic growth in India really is overtaking China. Having roughly doubled spending allocations for roads and bridges in fiscal 2015/16, and raised the rail budget by a third, Modi is banking on India going faster. “They have acknowledged that infrastructure is the big elephant in the room,” said Vinayak Chatterjee, head of infrastructure services company Feedback Infra. “Once these measures are implemented, the elephant would start dancing, and with it the overall economy.” Modi’s chief economic advisor, Arvind Subramanian, reckons growth could increase by more than one percentage point this year provided ministries don’t underspend, though the central bank saw it adding just half a point. Data released on Friday showed the economy grew 7.5 percent in the quarter ending in March, […]