New Delhi, Dec 31: Finance Minister Nirmala Sithraman on Tuesday said India plans to invest about Rs 105 lakh crore in the infrastructure sector in the next five years to achieve the GDP target of 5 USD trillion by 2024-25.
"Projects while worth Rs 102 lakh crore have already been identified, another Rs 3 lakh crore worth of projects will be firmed up in the next few weeks. We will get projects worth Rs 105 lakh crore in infrastructure," Ms Sitharaman said.
"Infrastructure is a focus area for the government. This is the first time that we will have an infra pipeline. The task force, which held over 70 meetings with various stakeholders, has submitted its report in just 4 months,” the FM said at a press briefing.
The finance minister said that Rs 2.5 lakh crore port and airport projects, Rs 3.2 lakh crore digital infra projects, Rs 16 lakh crore irrigation, and rural, agri and food processing projects have been identified. Over Rs 16 lakh crore infra projects including mobility projects have also been added to the pipeline. It was also informed that private sector will share 22-25 per cent of NIP investments. The Centre and states will bear the rest of the cost equally.
She said nearly Rs 20 lakh crore road and nearly Rs 14 lakh crore railway projects have also been lined up under NIP. Nearly Rs 25 lakh crore energy projects are lined up under the national infrastructure pipeline.
Ms Sitharaman said that with the help of this massive inflow of investment, the government has kept its promise made by Prime Minister Narendra Modi during his Independence Day speech. The FM also added that Annual Global Investors' Meet will be organised in the second half of 2020. Also Centre and states will meet investors and talk on investment opportunities during the meet. (UNI)