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With 179 projects worth Rs 8.5 lakh crore in pipeline, Tamil Nadu looks to raise funds

This comes in the wake of the Union government setting up a task force to draw up plans for building infrastructure worth Rs 100 lakh crore ($1.4 trillion) over the next five years.

Published: 03rd February 2020 02:01 AM  |   Last Updated: 03rd February 2020 03:19 AM   |  A+A-

Tamil Nadu CM Edappadi Palaniswami (Photo| EPS)

Tamil Nadu CM Edappadi Palaniswami (File Photo| EPS)

Express News Service

CHENNAI:  The State has earmarked 179 projects worth Rs 8.5 lakh crore, to be implemented in the next five years and is looking at acquiring funds, according to official sources.

The state government has provided a list of projects to the Union government, to be implemented in the financial year 2019-20 and up to 2025.

This comes in the wake of the Union government setting up a task force to draw up plans for building infrastructure worth Rs 100 lakh crore ($1.4 trillion) over the next five years.

To achieve the GDP of $5 trillion by 2025, as desired by Prime Minister, India needs to spend about $1.4 trillion (Rs 100 lakh crore) over these years on infrastructure.

A state government source told Express that there is no funding from the Union government under National Infrastructure Pipeline.

“We have given them a list of 179 projects costing Rs 8.5 lakh crore. The Union government has not said that they will fund the project,” the source said. 

National infrastructure pipeline to be prepared

It is learnt that the Finance Ministry has set up a task force under the chairmanship of Secretary (Department of Economic Affairs), to draw up a national infrastructure pipeline from 2019-20 to 2024-25. The pipeline project would include greenfield and brownfield projects costing above Rs 100 crore each.

Sources told Express that the state government has sought help with fundraising.

"Direct funding from the Centre is not on the table," the source added.

This comes after Niti Aayog had requested the State government to provide information on projects about to be implemented in the financial year 2019-20 and up to 2025 as per the harmonised master list of infrastructure projects. 

Interestingly, many projects of the state have been delayed due to want of funds from the Centre. Sources said that the state is also awaiting funds to implement schemes earmarked under the National Livestock Mission 2018-19.

The state has also urged the Centre to release funds to the tune of over Rs 6,300 crore, which it is supposed to receive as per the recommendations of the 14th Finance Commission.

Cabinet meeting on Tuesday

Chennai:  Chief Minister Edappadi K Palaniswami will chair a cabinet meeting at the Secretariat on February 4. Sources said the meeting has been scheduled amidst expectation of the State budget session.

The cabinet is likely to discuss the Centre’s new schemes announced in the budget and possibilities of schemes in the State budget.

Projects aplenty

The infrastructure projects under the list include transport and logistics, energy, communications, social and commercial infrastructure



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