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Finance Minister unveils Rs 102 lakh crore of infra projects for next five years

Listing out the performance of the NDA government as the year ends today, Sitharaman said the task force was constituted in line with the announcement made by Prime Minister Narendra Modi in his Independence Day speech.

By: Express Web Desk | New Delhi |
Updated: December 31, 2019 9:51:13 pm
finance minister nirmala sitharaman, sitharaman press briefing, infrastructure projects govt, task force govt Finance Minister Nirmala Sitharaman (File photo)

The Union government on Tuesday announced its plan to invest Rs 102 lakh crore in infrastructure projects across India. Addressing a press conference in the national capital, Finance Minister Sitharaman said that the government’s plan is based on the findings of a task force constituted by the government in line with the announcement made by Prime Minister Narendra Modi in his Independence Day speech.

Modi had in his Independence Day speech spoken of investing Rs 100 lakh crore in infrastructure.

Listing out the performance of the NDA government as the year ends today, Sitharaman said the task force identified the infrastructure projects after conducting 70 stakeholder consultations in a short period of four months.

In September this year, the Centre had constituted a task force to identify and prepare a pipeline of infrastructure projects that can be executed over the next five years. The task force, headed by the Economic Affairs Secretary, will draw up a ‘National Infrastructure Pipeline’ of Rs 100 lakh crore expected to come up by 2024-25.

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.

The government is also set to launch a National Infrastructure Pipeline (NIP) Coordination Mechanism, comprising the Centre, states and private sector, for detailed planning, information dissemination and monitoring implementation of the NIP framework.

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