Task Force on NIP submits final report to Finance Minister

News:The Task Force on the National Infrastructure Pipeline(NIP) for 2019-25 has submitted its Final Report to the Finance Minister.

Facts:

• National Infrastructure Pipeline(NIP): It is the investment plan unveiled by the Central Government for enhancing infrastructure in identified sectors for a period of five years from 2020-25 with the aim to help India reach a $5 trillion economy by 2025.
• Task Force: Government of India has constituted a task force chaired by Secretary, Department of Economic Affairs,Ministry of Finance to prepare a roadmap for NIP.

Key Recommendations:

• Investment: It has projected an investment of around ₹111 lakh-crore during financial year 2020-25.
• Funding: Centre – 39%, States – 40% and Private Sector – 21%.
• Sector wise investment: Energy(24%), Roads(18%), Urban(17%), Railways(12%).
• Progress of Projects: a) Projects under implementation- Rs 44 lakh crore b) Projects at Conceptual Stage- Rs 33 lakh crore c) Projects under development- Rs 22 lakh crore.
• Measures suggested: a) Aggressive push towards asset sales b) Monetisation of infrastructure assets c) Setting up of development finance institutions and d) Strengthening the municipal bond market.
• Committees suggested: a) Committee to monitor NIP progress to help eliminate delays b) Steering Committee in each infrastructure ministry level for following up implementation and c) Steering Committee in Department of Economic Affairs(DEA) for raising financial resources for the NIP.