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National Infrastructure Pipeline

Topics Covered:

  1. Infrastructure related issues.

National Infrastructure Pipeline

 

What to study?

For Prelims: Features of NIP.

For Mains: Funding, need for and significance.

 

Context: A task force to draw up a National Infrastructure Pipeline for each of the financial years from 2019-20 to 2024-25 has been constituted.

The Task Force is chaired by the Secretary, Department of Economic Affairs, Ministry of Finance.

 

About the National Infrastructure Pipeline and it’s significance:

  1. National Infrastructure Pipeline will ensure that infrastructure projects are adequately prepared and launched.
  2. It would include greenfield and brownfield projectscosting above Rs 100 crore each.
  3. Each Ministry/ Department would be responsible for the monitoring of projects so as to ensure their timely and within-cost implementation.
  4. It will help in stepping-up annual infrastructure investmentto achieve the Gross Domestic Product (GDP) of $5 trillion by 2024-25.

Need for infrastructure funding:

  • In the past decade (2008-17), India invested about $1.1 trillion on infrastructure.
  • Availability of quality infrastructure is a pre-requisite to achieve broad-based and inclusive growth on a sustainable basis.
  • Investment in infrastructure is also necessary for sustaining the high growth rate of India.
  • To achieve the GDP of $5 trillion by 2024-25, India needs to spend about $1.4 trillion (Rs. 100 lakh crore) over these years on infrastructure.

 

Sources: pib.