National Infrastructure Pipeline

The National Infrastructure Pipeline (NIP) is a group of social and economic infrastructure projects in India over a period of five years with a sanctioned amount of ₹102 lakh crore (US$1.4 trillion). The pipeline was first made public by the Prime Minister of India during his 2019 Independence Day speech.[1][2] The Finance Minister announced that the NIP consists of 78% projects by the centre and states, and the remaining by the private sector.[2] The NIP is a pillar of government of India's aim to become a $5 trillion economy by 2025. The online dashboard is envisaged as a one stop solution for all stakeholders looking for information on infrastructure projects in New India. The dashboard is being hosted on the India Investment Grid (IIG) (indiainvestmentgrid.gov.in). About NIP:

When was it announced?

In the budget speech of 2019-2020, Finance Minister announced an outlay of Rs 100 lakh Crore for infrastructure projects over the next 5 years.

What is it?

NIP is a first-of-its-kind initiative to provide world-class infrastructure across the country and improve the quality of life for all citizens. It will improve project preparation, attract investments (both domestic & foreign) into infrastructure, and will be crucial for attaining the target of becoming a $5 trillion economy by FY 2025. Covers both economic and social infrastructure projects. Report by Task force:

The task force headed by Atanu Chakraborty on National Infrastructure Pipeline (NIP), in May 2020, submitted its final report to the Finance Minister.

Important recommendations and observations made:

Investment needed: ₹111 lakh crore over the next five years (2020-2025) to build infrastructure projects and drive economic growth. Energy, roads, railways and urban projects are estimated to account for the bulk of projects (around 70%). The centre (39 percent) and state (40 percent) are expected to have an almost equal sharein implementing the projects, while the private sector has 21 percent share. Aggressive push towards asset sales. Monetisation of infrastructure assets. Setting up of development finance institutions. Strengthening the municipal bond market. The task force has recommended setting up of the following three committees:

Committee to monitor NIP progress and eliminate delays Steering Committee at each Infrastructure ministry level to follow up on the implementation process Steering Committee in DEA for raising financial resources for the NIP.[3]

NIP will soon be available on the "India Investment Grid (IIG)" for users to view the pipeline of infrastructure projects.[4]

References
  1. Ministry of Finance (31 December 2019). "Press Information Bureau". pib.gov.in. Retrieved 2020-03-07.
  2. "What is NIP (National Infrastructure Pipeline): Things to know". The Times of India. 31 December 2019. Retrieved 2020-03-07.
  3. Gupta, Moushumi Das (2020-02-19). "How your water bill could be key to Modi govt's infra push for $5 trillion-economy goal". ThePrint. Retrieved 2020-03-07.
  4. https://pib.gov.in/PressReleasePage.aspx?PRID=1619236
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.