On the last day of the year 2019, Finance Minister Nirmala Sitharaman has announced that projects worth Rs 105 lakh crore will be completed in the country’s infrastructure sector in the next five years. The report of the task force made in this regard was also released on Tuesday.
PM Modi’s dream
Significantly, in view of the slowdown in the country’s economy, there was a need to increase government spending. Now this announcement by the Finance Minister will give a boost to the business of infrastructure companies. Prime Minister Narendra Modi, in his Independence Day speech, first said that 100 lakh crore rupees will be invested in the country’s infrastructure sector in the next 5 years.
Finance Minister Nirmala Sitharaman told in a press conference that most of these projects will be related to power, health, railways, urban, irrigation, digital etc. sectors. She further said that in the last four months, the task force has held a total of 70 meetings to get the opinion of 70 stakeholders. She also announced that for the first time in the country a National Infrastructure Pipeline (NIP) coordination mechanism will be launched.
She said that a Global Investors Meet will be held every year, the first such meeting will be held in the second half of 2020. She informed that the project worth Rs 102 lakh crore will be from the center and projects worth Rs 3 lakh crore will be from the states. The stakeholders who were talked to included the ministry, state government, infrastructure company, developer, bank etc.