The Finance Ministry said on Monday to update on project information for investment across various sectors and also allowed to use digital platform to monitor all infrastructure projects under the Rs 111 trillion National Infrastructure Pipeline.
The project will be be mapped and evaluated by the department concerned and the Finance Ministry will monitor the progress and its implementation to the initial estimates of NIP for the project.
According to the digital portal, the Rs 3.66 trillion was allotted to Pradhan Mantri Gram Sadak Yojana, the Rs 1.08 trillion Mumbai-Ahmedabad high speed rail corridor, the Rs 19000-crore Pune Airport development programme, and the Rs 1.09 trillion North South Dedicated Freight corridor, among others, are parts of the NIP.
Rs 21.51 trillion have also been identified for the water and sanitation projects including Jal Jivan Mission Implementation Project. At the same time, 710 social infrastructure projects worth Rs 13.96 trillion will be part of NIP, including the Mumbai City Affordable Housing Construction.
“The online dashboard is envisaged as a final solution for all stakeholders who is looking for information on infrastructural projects in India. According to Government the dashboard is provided on the the India Investment Grid(IIG), which is interactive and dynamic online platform that show the update and real-time investment opportunity in the country”, says the Finance Minister.
This move is assumed as significant as increased focus on infrastructural projects that will help to revive the economy after the COVID-19 crisis.
” The digital platform will provide greater visibility to projects and also achieve the mandate of the NIP to market the projects in an efficient manner. The NIP project database hosted on IIG would provide visibility to NIP and help in financing from prospective of investors, domestic and foreign, and give them access to update project-level information,” government said.
In the month of April the task force headed by former economic affairs secretary Atanu Chakraborty had submitted the final report on the Rs.111 trillion investment for 2020-25 to expand the social and economic infrastructural development and to boost economic growth. The task force was carrying the vision of Prime Minister Narendra Modi’s to roll out an ambitious infrastructure push of Rs.100 trillion over the next five years to make India a $5 trillion economy.
Out of total expected expenditure of Rs.111 trillion, 40% of the projects worth Rs 44 trillion are under implementation, whereas project worth of Rs 33 trillion, or 30% of the schemes, are at the conceptual stage.
