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Friday
November 2019
3:14 PM IST
News Headlines
Assembly Speaker censures four Congress MLAs for climbing on dais        Students, parents stage protest over death of girl due to snakebite in classroom        Mahinda Rajapaksa takes PM office for third time        Israel''s Netanyahu charged in corruption cases        All eyes on Shami as India in throes of making yet another cricketing history with pink ball D/N Test against Bangladesh        India Women claim 5-0 T20 series sweep over West Indies        Three Rafale jets handed over to IAF by France: Govt        Normalcy has been restored in J&K: Shah        Cabinet approves strategic disinvestment of CPSEs        Lankan Prez names elder brother Mahinda as PM after Wickremesinghe resigns        Nawaz Sharif meets medical experts for check-up in London        Germany crush Northern Ireland 6-1 in Euro 2020 qualifiers        Bring Ashwin back in limited overs cricket: Harbhajan        T''gana techie among 2 Indians arrested in Pak; missing since 2017, says family        Rajini, Haasan hint at joining hands for TN''s welfare        Opposition leader visits injured MLA at Medical College Hospital in Kerala        Helmets must for two-wheeler riders, pillions from Dec 1 : HC        Ailing former Pak PM Nawaz Sharif leaves for London for treatment        Swedish prosecutor drops Assange rape probe        Newly-elected Lankan President to visit India on Nov 29        
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Business News
FinMin sets up task force to identify infra projects for Rs 100 lakh cr investment
 
New Delhi: The government on Saturday said it has constituted a high-level task force to identify infrastructure projects for Rs 100 lakh crore investment by 2024-25 as India aims to become a USD 5 trillion economy.

The task force, headed by the economic affairs secretary, will draw up a 'National Infrastructure Pipeline' of Rs 100 lakh crore, the finance ministry said in a statement.

This would include greenfield and brownfield projects costing above Rs 100 crore each.

The task force will comprise secretaries from different ministries, other senior officials and Niti Aayog CEO. It will identify technically feasible and financially/ economically viable infrastructure projects that can be initiated in 2019-20.

Further, it has been asked to list the projects that can be included in the pipeline for each of the remaining five years between fiscals 2021-25.

The task force, constituted by Finance Minister Nirmala Sitharaman, will submit its report on the pipeline for 2019-20 by October 31, 2019 and on the indicative pipeline for 2021-25 by December-end, the ministry said.

To achieve the target of scaling India's GDP to USD 5 trillion by 2024-25, the country needs to spend about USD 1.4 trillion (Rs 100 lakh crore) from the fiscal 2019-20 to 2024-25 on infrastructure, it added.

In the past decade (fiscal 2008-17), 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, the ministry said.

Prime Minister Narendra Modi in his Independence Day speech had said that Rs 100 lakh crore would be invested on infrastructure over the next five years. These will include social and economic infrastructure projects.

"To implement an infrastructure program of this scale, it is important that projects are adequately prepared and launched," the ministry said, adding that in pursuance of this an annual infrastructure pipeline would be developed.

"To achieve this task, a Task Force under the chairmanship of Secretary (DEA) has been constituted by Union Finance Minister to draw up a National Infrastructure Pipeline for each of the years from FY 2019-20 to FY 2024-25," it said.

As per the terms of reference (ToR) of the task force, it has also been asked to estimate annual infrastructure investment/capital costs, guide ministries in identifying appropriate sources of financing and suggest measures to monitor the projects to minimise cost and time overruns.

Other qualifications for inclusion in the pipeline for the current year will include availability of a detailed project report (DPR), feasibility of implementation, inclusion in the financing plan and readiness/ availability of administrative sanction.

Each ministry/department would be responsible for monitoring of projects so as to ensure their timely and within-cost implementation, the finance ministry said.

The task force will also enable robust marketing of the pipeline of projects requiring private investment through the India Investment Grid (IIG) and National Investment and Infrastructure Fund (NIIF), among others.


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KERALA NEWS
Assembly Speaker censures four Congress MLAs for climbing on dais
 Thiruvananthapuram: Kerala Assembly Speaker P Sreeramakrishnan on Thursday censured four Opposition  
Opposition leader visits injured MLA at Medical College Hospital in Kerala
Sabarimala temple opens for 2-month long pilgrimage season
Kerala: Mixed response to SC Sabarimala verdict
INTERNATIONAL NEWS
Mahinda Rajapaksa takes PM office for third time
 Colombo: Former president Mahinda Rajapaksa assumed the office of prime minister for the third time
Israel''s Netanyahu charged in corruption cases
Lankan Prez names elder brother Mahinda as PM after Wickremesinghe resigns
Nawaz Sharif meets medical experts for check-up in London
NATIONAL NEWS
Normalcy has been restored in J&K: Shah
 New Delhi: Asserting that the normalcy has been restored in Jammu and Kashmir, Home Minister Amit Sh
Cabinet approves strategic disinvestment of CPSEs
T''gana techie among 2 Indians arrested in Pak; missing since 2017, says family
Rajini, Haasan hint at joining hands for TN''s welfare
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