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Government Set Up Task Force to Identify Infra Projects

Infra News - Published on Tue, 10 Sep 2019

Image Source: vajiramias.com
The Hindu Business Line reported that the Government recently constituted an inter-ministerial task force to draw up annual National Infrastructure Pipeline for each of the five years, starting this fiscal that is 2019-20 to fiscal year 2024-25. The task force will be headed by Economic Affairs Secretary while the Chief Executive Officer of NITI Aayog, Expenditure Secretary and Secretaries of various infrastructure ministries along with Additional Secretary and Joint Secretary of Economic Affairs Department will be members. It will submit its Report on the pipeline for FY 2019-20 by October 31, 2019 and on the indicative pipeline for FY 2021-25 by December 31, 2019.

The terms of reference of the task force will include identifying technically feasible and financially/ economically viable infrastructure projects that can be initiated in FY 2019-20, listing the projects that can be included in the pipeline for each of the remaining 5 years between FY 2021-25, estimating annual infrastructure investment/capital costs, guiding the Ministries in identifying appropriate sources of financing and suggesting measures to monitor the projects so that cost and time overrun is minimized.

A statement issued by the Finance Ministry said that availability of quality infrastructure is a pre-requisite to achieve broad-based and inclusive growth on a sustainable basis. Investment in infrastructure is also necessary for sustaining the high growth rate of India.

To achieve the GDP of USD 5 trillion by 2024-25, India needs to spend about USD 1.4 trillion over these years on infrastructure. In the past decade, India invested about USD 1.1 trillion on infrastructure. The challenge is to step-up annual infrastructure investment so that lack of infrastructure does not become a binding constraint on the growth of the Indian economy.

Source :

Posted By : Sanju Moirangthem on Tue, 10 Sep 2019
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