In the next few weeks, another 3 lakh crore worth of projects will be added: Nirmala Sitharaman
Finance Minister Nirmala today launched the National Infrastructure Pipeline Report. Ms Sitharaman said that Rs 102 lakh crore National Infrastructure Projects will help make India a USD 5 trillion economy by 2025.
While addressing the media Nirmala Sitharaman said, "In line with the announcement made by PM Narendra Modi during his Independence Day speech in 2019, a task force was formed to identify projects to make infrastructure investment worth Rs 100 lakh crore for the next five years."
Here are the highlights of the report:
- National Infrastructure Projects (NIP) that will be implemented in the next five years. This is the first time in the country that we have infrastructure development pipeline
- We had constituted a task force for Infrastructure investments four months ago. Several working groups suggested many reform related steps that aim to look at various aspects of the financial sector.
- A task force identified Rs 102 lakh crore worth of projects after conducting 70 stakeholder consultations in a short period of four months
- In the next few weeks, another 3 lakh crore worth of projects will be added
- We intend to launch the NIP coordination mechanism comprising centre and states
- Both centre and state together have spent Rs 51 lakh crore in the last 6 years.
- As part of the NIP mechanism, the centre's share will be 39%, states share 39% and private sector will be 22-25%. Expect private share to increase to 30% by 2025
- The projects identified are in sectors such as power, railways, urban irrigation, mobility, education and health
- Nearly Rs 25 lakh crore energy projects lined up under NIP. Roads to get nearly Rs 20 lakh crore, nearly Rs 14 lakh crore for railway projects
- There are 100 lakh crore infrastructure investments
- Rs 2.5 lakh crore port and airport projects, Rs 3.2 lakh crore digital infra projects identified, Rs 16 lakh crore irrigation, rural, agriculture and food processing projects identified
- Over Rs 16 lakh crore infra projects including mobility projects
- There will also be an annual supplementary report issued every year
- In 2020, the Annual Global Investor meet will be organised, the first edition of which will be held in the second half of the coming year