Recently, Union Minister Nitin Gadkari stated that there are big investment possibilities for India in particular in its vibrant infrastructure sector exactly where projects worth Rs 44 lakh crore are below implementation as aspect of the National Infrastructure Pipeline (NIP) of Rs 111 lakh crore. The minister was quoted in a PTI report saying that NIP envisages an investment of Rs 111 lakh crore on infrastructure projects by the year 2024-25. At present, projects worth Rs 44 lakh crore out of the Rs 111 lakh crore, accounting for 40% are below implementation and worth Rs 22 lakh crore projects that account for NIP’s 20% are below improvement stages. Gadkari additional stated, framework of NIP consists of 39% investment by the central government, 40% investment by states and 21% by the private sector.
Under the programme, investments worth Rs 25 lakh crore are envisaged in the power sector, Rs 16 lakh crore is envisaged in irrigation, rural agriculture and meals processing, 20 lakh crore is envisaged in the highways sector, Rs 16 lakh crore each and every in mobility and railways and an investment of Rs 14 lakh crore is envisaged on digital infra amongst other individuals, the minister stated. According to Gadkari, the highways sector has big possible and in 5 years the toll revenue was slated to attain an quantity of Rs 1 lakh crore from Rs 34,000 crore this year. He additional stated that it holds profitable investment possibilities provided one hundred% FDI permitted in the sector. The Modi government has ensured minimising threat to the private sector by means of many policy initiatives as properly as introduced low threat models such as hybrid annuity model for the sector, he stated.
For the sector, a target of investments to the tune of an quantity of Rs 15 lakh crore has been set for the subsequent 2-3 years, Gadkari stated. The Delhi-Mumbai express corridor, worth Rs 1 lakh crore, spanning a distance of 1,300 km is anticipated to be completed in the subsequent two years with the project’s 50% currently completed. While in the subsequent month, two more expressway projects, worth an quantity of Rs 65,000 crore will be launched, he stated.
The minister, when speaking about the MSME sector, stated it has a big function in redefining the nation’s economy and at present, the target is to take exports to 60% from 48%. In the subsequent 5 years, 5 crore new jobs have been planned in the sector when so far, 11 crore jobs have been generated currently.