Task force on National Infrastructure Pipeline submits its report
On April 29, 2020, the task force on National Infrastructure Pipeline has submitted its final report to Finance Minister Nirmala Sitaraman. The report has been prepared for the year 2019-25.
The summary of the report prepared by the task force on National Infrastructure Pipeline had already been released in December 2019. The Finance Minister in her Union Budget Speech 2019-20 had announced Rs 100 lakhs crore for the National Infrastructure Pipeline.
The Task Force had undertaken bottom to top approach to prepare the report. the report has provided a detailed split up for the capital expenditure of Rs 111 lakh crore. According to the report, projects of Rs 33 lakh crore are at conceptual stage. Also, the report suggests the funds to be allocated as 24% to energy sector, roads 18%, railways 12% and urban 17%.
The following recommendations were made by the task force
- A Committee to be set up to monitor NIP progress. This will help to eliminate delays
- A Steering Committee be set up at ministerial level to follow the implementation
- A Steering Committee be set up to raise financial resources for NIP.
National Infrastructure Pipeline
The National Infrastructure Pipeline is the first of its kind. It aims to improve quality life of the citizens in the country. The project will aim to attract investments. It has set a target of making India a 5 trillion USD economy by 2025.
Functions of the Task Force
The Task Force was constituted to identify financially economical and feasible infrastructure. It was tasked to estimate the annual infrastructure investment and capital costs. Also, the task force was employed to monitor projects in order to minimize costs.
Infrastructure Vision 2025
The GoI has framed the Infrastructure Vision 2025. The main aspirations of the vision are as follows
- To provide affordable and clean energy
- To provide 100% digital coverage to all
- To provide world class quality education.
- To provide housing and water supply
- To double farmers’ income by 2022
Category: India Nation & States Current Affairs