India to get massive infrastructure, economy boost! The Narendra Modi government is planning a staggering amount of Rs 102 lakh crore in infrastructure projects to propel India to the elite league of $5 trillion economy by 2025, said Union Finance Minister Nirmala Sitharaman. Ahead of Budget 2020, the central government has also unveiled a first-of-its-kind National Infrastructure Pipeline for better understanding of nitty-gritty of the infrastructure projects in India. FM Sitharaman said that Prime Minister Narendra Modi in his Independence Day speech 2019 highlighted that Rs 100 lakh crore would be invested on infrastructure over the next 5 years.
Modi Government’s Rs 102 lakh crore infrastructure push: All you need to know
Rs 102 lakh crore under National Infrastructure Pipeline (NIP) projects will help make India the coveted $5 trillion economy by 2025, says Union Finance Minister Nirmala Sitharaman.
The central government has started a National Infrastructure Pipeline for the first time in India. Energy projects worth around Rs 25 lakh crore are in the pipeline, says FM Nirmala Sitharaman.
The central government has proposed around Rs 14 lakh crore railway projects and nearly Rs 20 lakh crore road projects under this mega infrastructure push.
India is witnessing growth in civil aviation infrastructure. Continuing that, Rs 2.5 lakh crore will be invested in projects pertaining to airports and ports, FM Sitharaman said.
Infrastructure projects involving mobility ones in India get a big push as over Rs 16 lakh crore will be invested, FM Sitharaman said.
Digital India gets a massive boost. Around Rs 3.2 lakh crore will be invested in digital infra projects.
The Central government has kept its focus on rural, irrigation, Agri and food processing projects as FM Sitharaman announced that Rs 16 lakh crore will be invested in these sectors.
Divulging details on the source of funds, FM Sitharaman said that the private sector will share around 22-25 per cent of the total investments. Rest will be borne by both the Central and state governments.
Listing out the Modi government’s spending on the infra projects since it assumed power in 2014, FM Sitharamman said Rs 51 lakh crore was spent in the last six years. The Finance Minister said that around 5-6 per cent of GDP has been spent on infra projects.
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Source: Financial Express