Must Know: Report of Task Force on National Infrastructure Pipeline, 2019-2025
Report of Task Force on National Infrastructure Pipeline Report, 2019-2025 was released by FM Nirmala Sitharaman.
According to the Minister of Finance, government is planning a staggering amount of Rs 102 lakh crore in infrastructure projects to propel India to the elite league of $5 trillion economy by 2025. This measure will give India a massive infrastructure that leads to economy boost.
- Ministry of Finance (MoF) of India, on December 31, 2019, released a report on infrastructure projects worth Rs 102 lakh crore. The report is named as the ‘Report of the Task Force on National Infrastructure Pipeline’, NIP for 2019-2025.
- This infrastructure projects worth 102 lakh crore rupees that will be implemented in the next five years as a part of the government's spending push to the infrastructure sector.
- According to the Minister of Finance, the report was prepared by the task force on infrastructure after 70 consultations with stakeholders, including ministries, states, infrastructure companies and developers in the last four months.
- The report comes about five months after Prime Minister’s speech on Independence Day 2019, where PM announced the government's intent to invest Rs 100 lakh crore in infrastructure over the next five years.
- Ahead of Budget 2020, the central government has also unveiled a first-of-its-kind National Infrastructure Pipeline for better understanding of nitty-gritty of the infrastructure projects in India.
- Rs 102 lakh crore under National Infrastructure Pipeline (NIP) projects will help make India the coveted $5 trillion economy by 2025.
- The central government has started a National Infrastructure Pipeline for the first time in India. Energy projects worth around Rs 25 lakh crore are in the pipeline.
- The central government has proposed around Rs 14 lakh crore railway projects and nearly Rs 20 lakh crore road projects under this mega infrastructure push.
- India is witnessing growth in civil aviation infrastructure. Continuing that, Rs 2.5 lakh crore will be invested in projects pertaining to airports and ports.
- Infrastructure projects involving mobility ones in India get a big push as over Rs 16 lakh crore will be invested.
- Digital India gets a massive boost. Around Rs 3.2 lakh crore will be invested in digital infra projects.
- The Central government has kept its focus on rural, irrigation, Agri and food processing projects as Ministry of Finance announced that Rs 16 lakh crore will be invested in these sectors.
- Divulging details on the source of funds, the private sector will share around 22-25 per cent of the total investments. Rest will be borne by both the Central and state governments.
- Ministry of Finance highlighted that the Central government’s spending on the infra projects since it assumed power in 2014. The government has spent Rs 51 lakh crore in the last six years. According to the Ministry of Finance, around 5-6 per cent of GDP has been spent on infra projects.
- Ministry of Finance revealed that another Rs 3 lakh crore worth of investment will be added to the pipeline. The Centre and states will have a share of 39 per cent each in the proposed pipeline, whereas the private sector will account for the remaining 22 per cent
- The Rs 100-lakh-crore infrastructure project pipeline to revive the economy comes at a time when the country's GDP or gross domestic product expanded at a more than six-year low rate of 4.5 per cent in the July-September period.
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Tags: 5 trillion economy by 2025, India to the elite league, national infrastructure pipeline, report of task force on national infrastructure pipeline 2019-2025