New Delhi: Finance Minister Nirmala Sitharaman on Tuesday unveiled Rs 102 lakh crore of infrastructure projects that will be implemented in the next five years as part of the government's spending push in the infrastructure sector.
Addressing a press conference, she said Prime Minister Narendra Modi had in his Independence Day speech spoken of investing Rs 100 lakh crore in infrastructure.
Subsequently, a task force identified Rs 102 lakh crore worth of projects after conducting 70 stakeholder consultations in a short period of four months, she said.
The minister said another Rs 3 lakh crore of projects are likely to be added to this pipeline.
These projects are on top of Rs 51 lakh crore spent by the Centre and the states during the last six years, she said adding the new pipeline consists of 39 per cent projects each by the Centre and states and the balance by 22 per cent by private sector.
She said the projects identified are in sectors such as power, railways, urban irrigation, mobility, education and health.
Nearly Rs 25 lakh crore energy projects have been lined up, the minister said, adding that another Rs 20 lakh crore in road and nearly Rs 14 lakh crore railway projects have been lined up.
She said the projects in power including renewable sector, railways, urban development, irrigation, mobility, education, health, water and digital.
These sectors will form the bulk of the infrastructure investment under National Infrastructure Pipeline being announced on Tuesday, Sitharaman said.
The finance minister said Rs 102 lakh crore National Infrastructure Projects will help make India a USD 5 trillion economy by 2025.
Nearly one-fourth of the Rs 102.5 lakh crore of infrastructure project pipeline will be in the energy sector with roads and railways being the other two big spender sectors.
According to the sector-wise break-up of projects made available by the Finance Ministry, Rs 24.54 lakh crore investment will flow in the energy sector, and of that Rs 11.7 lakh crore would be in just the power sector.
Road projects will account for Rs 19.63 lakh crore while another Rs 13.68 lakh crore would be for railway projects.
Port projects would see spending of Rs 1 lakh crore and airports another Rs 1.43 lakh crore. Rs 16.29 lakh crore would be spent on urban infrastructure and Rs 3.2 lakh crore in telecom projects.
Irrigation and rural infrastructure projects would account for Rs 7.7 lakh crore each. Rs 3.07 lakh crore would be spent on industrial infrastructure. Agriculture and social infrastructure would account for the rest.
Out of total expected capital expenditure of Rs 102 lakh crore under National Infrastructure Pipeline, projects worth Rs 42.7 lakh crore are under implementation, projects worth Rs 32.7 lakh crore are in conceptualization stage and rest under development, she said.
It is estimated that India would need to spend USD 4.5 trillion on infrastructure by 2030 to sustain its growth rate.
The endeavour of the National Infrastructure Pipeline is to make this happen in an efficient manner, she said.
National Infrastructure Pipeline will enable a forward outlook on infrastructure projects, it will create jobs, improve ease of living, and provide equitable access to infrastructure for all, thereby making growth more inclusive, she added.
