New Delhi: Union Finance Minister Nirmala Sitharaman unveiled infrastructure projects worth Rs 102 lakh crore as part of National Infrastructure Pipeline (NIP) on Tuesday in an attempt to rejuvenate a sluggish economy. At a press conference, Sitharaman said that the projects have been identified by a task force in line with the announcement made by Prime Minister Narendra Modi on Independence Day this year when he said that an investment of Rs 100 lakh crore will be made.
“These projects are on top of Rs 51 lakh crore spent by the Centre and the states during the last six years,” the minister said. The task force identified the projects in a short period of four months after holding 70 stakeholder consultations. The projects are meant to be implemented over the next five years.
‘Challenge is to step-up annual infrastructure investment’
In the past decade (FY 2008-17), India invested about $1.1 trillion on infrastructure. The challenge is to step-up annual infrastructure investment so that lack of it does not become a binding constraint on the growth of the Indian economy, the Ministry of Finance said in an official release.
“This exercise, the first of its kind, is expected to be followed up by a periodical review process.
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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,” the press release said.
How much does the govt plan to spend on what?
Sitharaman said that the sectors covered under the plan include energy, roads, railways, ports, airports, telecommunication, irrigation, rural infrastructure, agriculture and food processing, education, health and family welfare, sports and tourism and industrial infrastructure. The government plans to invest the biggest chunk of money on energy — Rs 25 lakh crore — followed by roads, where it has lined up projects worth Rs 19 lakh crore. And Railways will see projects worth Rs 14 lakh crore coming up in the next five years.
Here’s a breakdown of how much the government is investing in each sector:
|Ministry/ Department||FY 20-25|
|Petroleum and Natural Gas||194666|
|AMRUT, SMART Cities, MRTS, Affordable Housing, Jal Jeevan Mission||1,629,012|
|Water and Sanitation||361,810|
|Total Rural Infrastructure||772,765|
|Agriculture and Food Processing Infrastructure|
|Food Processing Industries||1,255|
|Food and Public Distribution||5,000|
|Total Agriculture and Food Processing Infrastructure||60,553|
|Health and Family Welfare||168,622|
|Total Social Infrastructure||356,701|
|Industries and Internal Trade||299,237|
|Total Industrial Infrastructure||307,462|
|TOTAL (Rs. Crore)||10,250,704|