102 Lakh Crores National Infrastructure Pipeline For $5 Trillion Economy
- Tejas Rokhade
- Jan 1, 2020
- 2 min read
Finance Minister Nirmala Sitharaman today announced a Rs 102 lakh crore National Infrastructure Pipeline (NIP) to achieve the target of a $5 trillion economy by 2024-25. The task force headed by Economic Affairs Secretary has prepared a road map for the NIP from 2019-20 to 2024-25.
Crux of the Matter
The task force headed by Economic affairs secretary Atanu Chakraborty submitted its first report after consultation with ministries, lenders, states and companies over the past four months.
Following are the sectors where the investments will be made:
Irrigation and rural infrastructure projects – 7.7 lakh crore each. Rs 3.07 lakh crore would be spent on industrial infrastructure and rest on Agriculture and social infrastructure.
Urban Infrastructure & Road projects – Rs 19.63 lakh crores and ₹16.29 lakh crores respectively.
Railway Projects & Telecom Sector – Rs 13.68 lakh crore and Rs 3.2 lakh crore respectively
Port & Airport projects – Rs 1 lakh crore and Rs 1.43 lakh crore respectively.
Energy & Power Sector – Rs 24.54 lakh crore out of which 11.7 lakh crore in the power sector.
Rs. 42 lakh crore NIP projects are in the implementation stage which includes expressways, national gas grid and PMAY-G.
42% of NIP projects are now under implementation, 31% are at the conceptualisation stage and 19% are under development.
The centre & state would have an equal share of 39% each in the NIP. The private sector would have a 22% share which the government expects to increase to 30% by 2025.
The projects will be spread across 21 ministries and 18 states and Union territories.
Estimated projected spend per fiscal are: Rs.19.5 trillion in 2020-21, Rs.19 trillion in 2021-22, Rs.13.8 trillion in 2022-23, Rs.12.8 trillion in 2023-24 and Rs.11.1 trillion in 2024-25.
Curiopedia
The Economy of India is characterised as a developing market economy. It is the world’s fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). According to the IMF, on a per capita income basis, India ranked 142nd by GDP (nominal) and 119th by GDP (PPP) per capita in 2018. From independence in 1947 until 1991, successive governments promoted protectionist economic policies with extensive state intervention and regulation. 1991 led to the adoption of a broad program of economic liberalisation. Since the start of the 21st century, annual average GDP growth has been 6% to 7%, and from 2014 to 2018, India was the world’s fastest-growing major economy, surpassing China. More Info
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