BackNirmala Sitharaman unveils ₹102 lakh crore national infrastructure plan
India plans to invest about ₹102 lakh crore in the infrastructure sector in the next five years to achieve the GDP target of $5 trillion by 2024-25India will hold an annual global investors meet in 2020, finance minister Nirmala Sitharaman announces
PremiumNEW DELHI : Finance Minister Nirmala Sitharaman today unveiled a ₹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.
Nirmala Sitharaman press conference updates:
-Irrigation and rural infrastructure projects would account for ₹7.7 lakh crore each. ₹3.07 lakh crore would be spent on industrial infrastructure. Agriculture and social infrastructure would account for the rest.
-Road projects will account for ₹19.63 lakh crore while another ₹13.68 lakh crore would be for railway projects.
-Port projects would see spending of ₹1 lakh crore and airports another ₹1.43 lakh crore. ₹16.29 lakh crore would be spent on urban infrastructure and ₹3.2 lakh crore in telecom projects.
-According to the sector-wise break-up of projects made available by the Finance Ministry, ₹24.54 lakh crore investment will flow in the energy sector, and of that ₹11.7 lakh crore would be in just the power sector.
- ₹42 lakh crore NIP projects which are in the implementation stage now include expressways, national gas grid and PMAY-G.
-States like Gujarat, Bihar, West Bengal and Rajasthan are yet to provide detailed plan of their investment under NIP.
-Around 42% of NIP projects are now under implementation while 31% are at the conceptualisation 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 level of economic activity, creates additional fiscal space by improving revenue base of the government and ensures quality of expenditure focused in productive areas.
-National Infrastructure Pipeline will enable more infrastructure projects, grow businesses, create jobs, improve ease of living and provide equitable access to infrastructure for all.
-18 states have so far come up on board: FM
-Reform suggestions by various working groups under the infrastructure task force will be taken up with all earnestness. This will include reforming the PPP based contracts, enforcement of contracts and dispute resolution process. “A robust monitoring mechanism will also be established," Sitharaman said.
-It is estimated that India would need to spend $4.5 trillion on infrastructure by 2030 to sustain its growth rate.
-Centre and states spent ₹51 lakh crore in the last 6 years: FM
-Power, railways, urban irrigation, mobility, education, health form bulk of infra project pipeline, says FM.
- ₹2.5 lakh crore port and airport projects, ₹3.2 lakh crore digital infra projects identified, ₹16 lakh crore irrigation, rural, agri and food processing projects identified and over ₹16 lakh crore infra projects including mobility projects: FM
-Private sector to share a 22-25% of NIP investments, Centre and states the rest: Sitharaman.
-Nearly ₹20 lakh crore road and nearly ₹14 lakh crore railway projects lined up under NIP.
-National Infrastructure Pipeline Coordination mechanism will be launched to monitor identified infra projects: Sitharaman.
-Nearly ₹25 lakh crore energy projects are lined up under the national infrastructure pipeline.
-We have kept our promise which was made by PM Modi in his Independence Day speech: Sitharaman.
-Annual investor meet is expected to be organised in the second half of 2020: Sitharaman.
-We are looking at various suggestions given by various working groups under the task force: FM
-Out of the projects included in the national infrastructure pipeline, 43% are under implementation, 33% are at conceptual stage and 19% are under development.
-In the next couple of weeks, another ₹3 trillion worth of projects will be added to the project, taking the total to $105 trillion: FM
- ₹102 lakh crore National Infrastructure Projects (NIP) to help make India a $5 trillion economy by 2025: Sitharaman
-Infrastructure is a focus area for the government: FM
-This is the first time that we will have an infra pipeline: Sitharaman.
-The task force has submitted its report in just 4 months.
-We will get projects worth ₹105 lakh crore in infrastructure, Sitharaman said.
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