Sitharaman unveils Rs 102 lakh crore infrastructure plan to achieve $5 trillion target by 2025
Finance Minister Nirmala Sitharaman on Tuesday unveiled Rs 102 lakh crore of infrastructure projects that will be implemented in the next five years as part of the government's spending push in the infrastructure sector. Addressing a press conference, she said Prime Minister Narendra Modi had in his Independence Day speech spoken of investing Rs 100 lakh crore in infrastructure. Subsequently, a task force identified Rs 102 lakh crore worth of projects after conducting 70 stakeholder consultations in a short period of four months, she said. The minister said another Rs 3 lakh crore of projects are likely to be added to this pipeline.
These projects are on top of Rs 51 lakh crore spent by the Centre and the states during the last six years, she said adding the new pipeline consists of 39 per cent projects each by the Centre and states and the balance by 22 per cent by private sector. She said the projects identified are in sectors such as power, railways, urban irrigation, mobility, education and health.
Nearly Rs 25 lakh crore energy projects have been lined up, the minister said, adding that another Rs 20 lakh crore in road and nearly Rs 14 lakh crore railway projects have been lined up. She said the projects in power including renewable sector, railways, urban development, irrigation, mobility, education, health, water and digital. These sectors will form the bulk of the infrastructure investment under National Infrastructure Pipeline being announced on Tuesday, Sitharaman said. The finance minister said Rs 102 lakh crore National Infrastructure Projects will help make India a USD 5 trillion economy by 2025.
Nirmala Sitharaman addresses press conference: HIGHLIGHTS
- In line with announcement made by PM in his Independence Day 2019 speech, to make infrastructure investment worth Rs. 100 lakh crore for the next five years, a task force was formed to identify projects
- Today, the task force has identified Rs 102 lakh crore worth of projects, after conducting 70 stakeholder consultations in a short period of four months.
- National Infrastructure Pipeline (NIP) Coordination Mechanism to be launched, comprising the Centre, states and private sector, for detailed planning, information dissemination and monitoring implementation of the NIP framework.
- An annual global investors meet will be organised in the second half of 2020
- Nearly Rs 25 lakh crore energy projects lined up under NIP; Nearly Rs 20 lakh crore road and nearly Rs 14 lakh crore railway projects lined up under NIP; Private sector to share a 22-25% of NIP investments, Centre and states the rest.
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Under NIP:
Rs 2.5 lakh crore port and airport projects
Rs 3.2 lakh crore digital infra projects identified
Rs 16 lakh crore irrigation, rural, agri and food processing projects identified
Over Rs 16 lakh crore infra projects including mobility projects
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