Thursday, October 6, 2022

Sitharaman unveils Rs 102 lakh cr infrastructure projects

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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
Power 1175995
Renewable Energy 929500
Atomic Energy 154088
Petroleum and Natural Gas 194666
Total Energy 2,454,249
Roads 1,963,943
Total Roads 1,963,943
Railways 1,368,523
Total Railways 1,368,523
Ports 100,923
Total Ports 100,923
Airports 143,398
Total Airports 143,398
AMRUT, SMART Cities, MRTS, Affordable Housing, Jal Jeevan Mission 1,629,012
Total Urban 1,629,012
Telecommunication 320,498
Total Telecommunications 320,498
Irrigation 772,678
Total Irrigation 772,678
Rural Infrastructure
Rural Infrastructure 410,955
Water and Sanitation 361,810
Total Rural Infrastructure 772,765
Agriculture and Food Processing Infrastructure
Agriculture Infrastructure 54,298
Food Processing Industries 1,255
Food and Public Distribution 5,000
Total Agriculture and Food Processing Infrastructure 60,553
Social Infrastructure
Higher Education 118,348
School Education 37,791
Health and Family Welfare 168,622
Sports 7,618
Tourism 24,321
Total Social Infrastructure 356,701
Industrial Infrastructure
Industries and Internal Trade 299,237
Steel 8,225
Total Industrial Infrastructure 307,462
TOTAL (Rs. Crore) 10,250,704
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