Task force formed to identify projects for infrastructure investment: FM Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman said that a National Infrastructure Pipeline (NIP) Coordination Mechanism would be launched, comprising the Centre, states and private sector, for detailed planning, information dissemination and monitoring implementation of the NIP framework. 

Task force formed to identify projects for infrastructure investment: FM Nirmala Sitharaman
Image courtesy: ANI

New Delhi: Union Finance Minister Nirmala Sitharaman said that a National Infrastructure Pipeline (NIP) Coordination Mechanism would be launched, comprising the Centre, states and private sector, for detailed planning, information dissemination and monitoring implementation of the NIP framework. 

Addressing the media here on Tuesday (December 31), the finance minister said that in line with the announcement made by Prime Minister Narendra Modi in his Independence Day 2019 speech, a task force was formed to identify projects for infrastructure investment worth Rs 100 lakh crore for the next five years. 

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Sitharaman said that the task force created by the government for infrastructure has recommended projects worth Rs 102 lakh crore under the National Infrastructure Pipeline, going beyond the government`s initial target of Rs 100 lakh crore.

The FM further said that investment of another Rs 3 lakh crore would be added to the pipeline and added that around 63 per cent of the projects in the pipeline are firmed up.

According to Sitharaman, the Centre and the states would have an equal share of 39 per cent in the proposed NIP and private sector would have 22 per cent which the government expects to increase to 30 per cent by 2025.

She noted that the task force held 70 different consultations with several stakeholders including ministries, states, infrastructure companies, developers among others in the last four months.

Key points of National Infrastructure Pipeline:

1. The National Infrastructure Pipeline (NIP) will be completed in the next five years.

2. Taskforce for infrastructure investments already constituted four months ago.

3. The infrastructure investment task force has identified Rs 102 lakh crore of NIP project after consultation with 70 stakeholders.

4. Another Rs 3 lakh crore project will be added to the NIP in the coming next three weeks.

5. Over Rs 16 lakh crore infra projects including mobility projects.

6. NIP coordination mechanism between the central government and states to be introduced soon.

7. Around Rs 25 lakh crore energy projects under NIP. Roads to get nearly Rs 20 lakh crore, around Rs 14 lakh crore for railway projects.

8. Annual Global Investor Meet to be held in 2020 and it would be organised in the first half of 2020.

(With Agency Inputs)