Union finance minister Nirmala Sitharaman on Tuesday unveiled Rs 102 lakh crore worth of infrastructure projects to be implemented over the next five years as a part of the government’s motive to make India a $5 trillion economy by 2025.
The massive project – National Infrastructure Pipeline (NIP) for 2019-2025- has been implemented to ensure that lack of infrastructure does not become a binding constraint on the growth of the Indian economy.
A task force headed by Economic Affairs Secretary was constituted to prepare a road map for the NIP from 2019-20 to 2024-25.
According to an order issued by the Ministry of Finance, 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 order stated.
Irrigation and rural infrastructure projects would account for Rs 7.7 lakh crore each under NIP.
Energy, road and railways infrastructure projects would account for Rs 24.54 lakh crore, Rs 19.63 lakh crore and Rs 13.68 lakh crore respectively.
Port projects would see spending of Rs one lakh crore and airports another Rs 1.43 lakh crore.
Urban infrastructure will account for Rs.16.29 lakh crore and an amount of Rs. 3.2 lakh crore would be invested in telecom projects.
Meanwhile, an amount of Rs 3.07 lakh crore would be spent on industrial infrastructure.
Moreover, a host of other infrastructural projects have been lined up under NIP.
Addressing a press conference, Sitharaman said Prime Minister Narendra Modi had in his Independence Day speech spoken of investing Rs 100 lakh crore in infrastructure and the BJP had kept its promise.