New Delhi: With the focus on the infrastructural development of the country in line with the vision of Prime Minister Narendra Modi, Union Finance Minister Nirmala Sitharaman on Tuesday stated that the Central government has plans to implement infrastructure projects worth Rs 102 lakh crore in the next five years.
Sitharaman further stated that both Centre and state governments together have spent Rs 51 lakh crore in the last 6 years. However, the government is committing another Rs 100 lakh crore.
She said that in the NIP mechanism as of now, the Centre’s share will be 39%, states share 39% and private sector share will be 22%. She also hoped that the private share to increase to 30% by 2025.
Holding a press conference, Sitharaman stated that the National Infrastructure Pipeline (NIP) Coordination Mechanism, comprising the Centre, states and private sector, will be launched for detailed planning, information dissemination and monitoring implementation of the NIP framework.
For smooth implementation of projects, Sitharaman stated the task force has identified Rs 102 lakh crore worth of projects, after conducting 70 stakeholder consultations in a short period of four months.
Apart from this, the Union Minister said another Rs 3 trillion of projects are likely to be added to this pipeline as well. She said that the private sectors have expressed keen interest in participating in these projects.
She added that a robust monitoring framework will be established soon for the smooth implementation of the projects and in addition, an online data room will also be established.
“Apart from the Finance Ministry, 21 other ministries will be involved in these projects,” she said, adding that Power, Railways, Urban Development, digital, healthcare education will form the bulk of the projects.