FM unveils Rs 102L cr of infra projects for next 5 yrs
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.
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FM Sitharaman said that private sector's share in national infra pipeline stood at 22% in 2019, which wouldrise to 30% by 2025.
Infrastructure has been a focus in the last six years and a total of Rs 51 lakh crore (5%-6% of the GDP) has been spent on infra in this period. We are now committing Rs 105 lakh crore for the next five years: FM Nirmala Sitharaman.
FM Sitharaman's Rs 102lakh crore national infra pipeline is in line with PM Modi’s vision of the $5-trillion economy by 2024.
An annual global investors meet will be organised in the second half of 2020, says Finance Minister Nirmala Sitharaman.
FM Sitharaman says that Rs 42.7 lakh crore worth projects are already under implementation. Sixty three percentof the total infra projects are already firmed up.
Power, Rail, Renewables, Urban,Irrigation Mobility, Water, and health to form bulk of Rs 105 lakh crore projects, she adds.
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, saysNirmala Sitharaman.
Several working groups under the task force, have suggested a lot of reform related steps, which will look at various aspects of the financial sector, saysFM Sitharaman.
In the next few weeks, another 3 lakh crore worth of projects will be added. We also intend to launch the NIP coordination mechanism consisting of Centre, states, she adds.
Today, the task force in only fourt months held 70 different stakeholders' consultations, with ministries, state govts, developers, NBFCs, bankers and others. We have a Rs 102 lakh crore worth projects compilation, says Sitharaman.
Finance Minister Nirmala Sitharaman is addressing media in Delhi. Stay tuned for live updates.
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