Infrastructure To augment India’s infrastructure and create jobs, the government has launched Rs 103 lakh crore infra projects besides providing about Rs 1.7 lakh crore for transport infrastructure and accelerating highways infrastructure construction, Finance Minister Nirmala Sitharaman said on Saturday. As part of a National Infrastructure Pipeline (NIP), `103 lakh crore would be required to support the funding of infrastructure over the next five years. The government has provided about Rs 22,000 crore as equity support to two government-owned infrastructure agencies.
Finance Minister Nirmala Sitharaman said, “This would cater for equity support to infrastructure finance companies such as India Infrastructure Finance Company Ltd and a subsidiary of National Investment and Infrastructure Fund. They would leverage the funds, as permissible, to create a financing pipeline of more than Rs 1 lakh crore. This would create a major source of long-term debt for infrastructure projects and fulfil a long-awaited need.”
“Administrative ministries and departments will have a major role to play in ensuring adequate returns to the proposed infrastructure investments through – (1) proper planning & preparation of projects such that they are accretive in terms of economic benefits to the transportation system as well as its users, and (2) facilitating Private Sector Participation by undertaking market consultations, appropriate project structuring and institutionally managing these initiatives,” said Peeyush Naidu, Partner, Deloitte India.