Union Finance Minister Nirmala Sitharaman on Tuesday announced infrastructure projects worth Rs 102 lakh crore in the next five years, ANI reported. This is part of the Indian government’s spending push in the sector and will help make India a $5 trillion economy by 2025, she said.
Sitharaman, who addressed a press conference in Delhi, pointed out that Prime Minister Narendra Modi, in his Independence Day speech, had spoken about investing Rs 100 lakh crore in infrastructure.
The National Infrastructure Pipeline Coordination Mechanism will be the framework for coordination between the Centre, states and private sector for monitoring the projects. “We will have projects worth Rs 105 lakh crore for Rs 100 lakh crore commitment made in infrastructure development,” Sitharaman said. “Infrastructure has been our focus. In last six years, Rs 51 lakh crore spent on the same.”
The minister said projects worth Rs 3 lakh crore were likely to be added to this pipeline soon, PTI reported. The new pipeline consists of 39% projects each by the Centre and states, and 22% by the private sector.
The government will also organise an annual global investor summit, where the Centre and states can meet investors and evaluate investment opportunities. They will also release an annual supplementary report with an updated list of projects and the progress on ongoing projects, Sitharaman added.