Govt unveils ₹102 lakh crore infra push to make India $5 bn economy

Finance Minister Nirmala Sitharaman on Tuesday (December 31) unveiled ₹102 lakh crore of infrastructure projects that will be implemented in the next five years as part of the governments 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 ₹100 lakh crore in infrastructure. Subsequently, a task force identified ₹102 lakh crore worth of projects after conducting 70 stakeholder consultations in a short period of four months, she said.

The minister said another ₹3 lakh crore of projects are likely to be added to this pipeline. These projects are on top of ₹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 ₹25 lakh crore energy projects have been lined up, the minister said, adding that another ₹20 lakh crore in road and nearly ₹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 ₹102 lakh crore National Infrastructure Projects will help make India a USD 5 trillion economy by 2025.