Finance Minister Nirmala Sitharaman today unveiled 102 lakh crore national infrastructure pipeline, in accordance with the Narendra Modi government's vision to make India a $5 trillion economy by 2024-25.
The finance ministry had set up a task force headed by Economic Affairs Secretary to prepare a road map for the "national infrastructure pipeline" from 2019-20 to 2024-25 under the 100 lakh crore infra plan. The task force was planning a list of 10 major infrastructure projects including greenfield and brownfield projects costing above 100 crores each.
States like Gujarat, Bihar, West Bengal and Rajasthan are yet to provide a detailed plan of their investment under NIP. -Around 42% of NIP projects are now under implementation while 31% are at the conceptualization stage. -According to Nirmala Sitharaman, the central government and state governments would have an equal share of 39% each in the NIP.
The private sector, on the other hand, would have 22% share which the government expects to increase to 30% by 2025. -The Narendra Modi government had earlier targetted 100 lakh crore for a massive infra push but now the government has extended it. -Under the national infrastructure pipeline, 2.5 lakh crore have been allocated for port and airport projects, 3.2 lakh crore for digital infra projects,16 lakh crore for irrigation, rural, Agri and food processing projects identified. Over 16 lakh crore infra projects including mobility projects. -
The National Infrastructure Pipeline will enable a forward outlook on infrastructure projects, it will create jobs, improve ease of living, and provide equitable access to infrastructure for all, thereby making growth more inclusive: Sitharaman. -National Infrastructure Pipeline: Well-developed infrastructure enhances the level of economic activity, creates additional fiscal space by improving the revenue base of the government, and ensures the quality of expenditure focused in productive areas.
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