Sitharaman unveils Rs. 1 Trillion National Infrastructure Plan for the next 5 years
NewDelhi : With a view to revive the economy and make India a USD 5 Trillion economy by 2025, the Modi government on Tuesday ambitious Rs. 102 lakh Crore plan for the infrastructure sector in the next 5 years.
Unveiling the National Infrastructure Pipeline, Finance Minister Nirmala Sitharaman has said that Rs. 102 lakh Crore infrastructure push is in accordance with the Prime Minister Narendra Modi’s vision to make India a USD 5 Trilion economy by 2025.
Modi in his Independence Day speech had announced that Rs.100 lakh crore would be invested on infrastructure over the next five years including social and economic infrastructure projects.
To achieve this objective, a Task Force headed by Secretary, DEA was constituted to draw up the National Infrastructure Pipeline (NIP) for each of the years from FY 2019-20 to FY 2024-25 with the approval of the Finance Minister. The first meeting of the Task Force was held in September 2019.
The NIP will enable a forward outlook on infrastructure projects which will create jobs, improve ease of living, and provide equitable access to infrastructure for all, thereby making growth more inclusive. NIP includes economic and social infrastructure projects.
On the basis of the information compiled as on date, total project capital expenditure in infrastructure sectors in India during the fiscals 2020 to 2025 is projected at over Rs 102 lakh crore. During the fiscals 2020 to 2025, sectors such as Energy (24%), Roads (19%), Urban (16%), and Railways (13%) amount to around 70% of the projected capital expenditure in infrastructure in India.
Out of the total projected capital expenditure of Rs. 102 lakh crore, projects worth Rs 42.7 lakh crore (42%) are under implementation, projects worth Rs 32.7 lakh crore (32%) are in conceptualization stage and rest are under development. It is expected that projects of certain states, who are yet to communicate their pipelines, would be added to the pipeline in due course.