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Finance Minister Nirmala Sitharaman Announces Infra Projects Worth Rs 102 Lakh Crore

In Line With The Announcement Made By PM In His Independence Day 2019 Speech, To Make Infrastructure Investment Worth Rs. 100 Lakh Crore For The Next Five Years, A Task Force Was Formed To Identify Projects, Sitharaman Said.

News Nation Bureau | Edited By : Fayiq Wani | Updated on: 31 Dec 2019, 03:55:16 PM
LIVE | Nirmala Sitharaman Announces Projects Worth Rs 102 Lakh Crore

New Delhi:

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. The minister said another Rs 3 lakh crore of projects are likely to be added to this pipeline.

These projects are on top of Rs 51 lakh crore spent by the Centre and the states during the last six years, she said adding the new pipeline consists of 39 per cent projects each by the Centre and states and the balance by 22 per cent by private sector. She said the projects identified are in sectors such as power, railways, urban irrigation, mobility, education and health. Nearly Rs 25 lakh crore energy projects have been lined up, the minister said, adding that another Rs 20 lakh crore in road and nearly Rs 14 lakh crore railway projects have been lined up.

She said the projects in power including renewable sector, railways, urban development, irrigation, mobility, education, health, water and digital. These sectors will form the bulk of the infrastructure investment under National Infrastructure Pipeline being announced on Tuesday, Sitharaman said. The finance minister said Rs 102 lakh crore National Infrastructure Projects will help make India a USD 5 trillion economy by 2025.

FM Sitharaman: Both Centre and State together have spent Rs 51 lakh crore in the last 6 years. We are committing another Rs 100 lakh crore. In the NIP mechanism as of now, the Centre's share will be 39%, states share 39% and pvt sector share will be 22%. Expect pvt share to increase to 30% by 2025.

FM 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. 

FM Sitharaman: Rs 42.7 lakh crore worth projects are already under implementation. 63% Of total infra projects are already firmed up.
Power, Rail, Renewables, Urban,Irrigation Mobility, Water, and health to form bulk of Rs105 lakh crore projects.

FM Sitharaman: Annual Global Investor meet will be organised, the first edition of which will be held in thesecond half of 2020.

There will also be an annual supplementary report issued every year: Finance Minister.

"In the last 6 years, a total 51 lakh crore has been spent on infrastructure. We are committing a 100 lakh crore for the next 5 years": Finance Minister Nirmala Sitharaman.

Today, the task force has identified Rs 102 lakh crore worth of projects, after conducting 70 stakeholder consultations in a short period of four months: Finance Minister.

"In line with announcement made by PM in his Independence Day 2019 speech, to make infrastructure investment worth Rs. 100 lakh crore for the next five years, a task force was formed to identify projects," Sitharaman said. 

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First Published : 31 Dec 2019, 03:26:07 PM