Modi Govt unveils massive Infra push | Hybiz News


Govt unveils Rs 102 trillion infra plan to spur growth
Finance Minister Nirmala Sitharaman made a significant announcement on the last day of calendar year 2019. As she heads into preparing the budget, Finance Minister launched the National Infrastructure Pipeline, unveiling projects worth 102 trillion rupees, a move which should hopefully kick start a sector of the economy that has been struggling for funding. With this move Mrs Sitharaman, hope to boost economic growth and help the Indian Economy achieve the 5 trillion dollar target by 2024-25.
The pipeline has identified projects across 23 sectors and 18 states and union territories, which shall be funded over the next five years by the Central and State governments as well as the private sector.
While launching the NIP report, the Finance Minister said that 39 per cent of the projects would be implemented by the centre and state respectively, and the rest 22 per cent by the private sector.
Finance Minister said that the government was expecting the private sector share to go up to 30 per cent by 2024-25. An additional 3 trillion rupees worth of projects would be identified in the days to come, taking the total to 105 trillion rupees.
The project pipeline includes brownfield and greenfield projects by the centre, states, private sector and state owned companies and those under the private public partnership model. According to the NIP report, 42.7 trillion rupees worth of projects are under implementation while 32.7 trillion rupees worth projects are at the conceptualization stage and 19.1 trillion rupees worth of projects are under development. A task force headed by Economic Affairs Secretary Atanu Charkraborty identified projects worth 102 trillion worth projects after conducting 70 stakeholder consultations in just four months.
Prime Minister Narendra Modi had in his Independence Day speech,committed that the government would invest 100 trillion rupees
The projects should provide a fillip to core sectors like steel and cement companies as well as generate employment across various sectors and skill levels.
#NirmalaSitharaman #NarendraModi #NationalInfrastructurePipeline
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