Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / India/  Finance minister launches 102 trillion National Infra Pipeline plan
BackBack

Finance minister launches ₹102 trillion National Infra Pipeline plan

The projects will be spread across 21 ministries and 18 states and Union Territories
  • While the Centre and states will contribute 39% each of the project cost, private sectors will contribute 22% of the cost
  • Finance Minister Nirmala Sitharaman. (Photo: PTI)Premium
    Finance Minister Nirmala Sitharaman. (Photo: PTI)

    New Delhi: Finance minister Nirmala Sitharaman on Tuesday launched a National Infrastructure Pipeline coordination mechanism with an investment plan worth 102 trillion in the next five years.

    A task force for the purpose, set up under economic affairs secretary Atanu Chakraborty, submitted its first report after consultation with 70 different stakeholders for four months. The task force was set up after prime minister Narendra Modi, in his Independence Day speech, promised to roll out an ambitious infrastructure push worth 100 trillion over the next five years to make India a $5 trillion economy.

    Watch: FM Sitharaman unveils 102 lakh crore infra projects for next 5 yrs


    Sitharaman said much of the infra investment will be frontloaded. “We have a compilation of 102 trillion worth projects. In next couple of weeks, we will add another 3 trillion worth projects, taking the total to 105 trillion," she added.

    The projects will be spread across 21 ministries and 18 states and Union Territories. While the Centre and states will contribute 39% each of the project cost, private sectors will contribute 22% of the cost. “By 2025, we expect the private sector contribution to rise to 30%," Sitharaman added.

    Out of the projects included in the pipeline, 43% are under implementation, 33% are at conceptual stage and 19% are under development. The projects belong to sectors such as power, including renewable, railways, urban development, irrigation, mobility, education, health, water and digital sector.

    Sitharaman said reform suggestions by various working groups under the task force will be taken up with all earnest. This will include reforming the PPP-based contracts, enforcement of contracts and dispute resolution process. “A robust monitoring mechanism will also be established," she added.

    While the government has taken a slew of measures to address the slowdown including a massive corporate tax cut and sector-specific steps, giving renewed thrust to infrastructure projects is expected to generate employment and boost demand.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 31 Dec 2019, 04:04 PM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App