Modi govt’s mega investment push: How Rs 100 lakh crore would be invested in next 5 years

Modi govt’s mega investment push: How Rs 100 lakh crore would be invested in next 5 years

While the median forecast showed the rupee will not retest Tuesday's low, the 12-month view was the most pessimistic in Reuters polls since December.

While the median forecast showed the rupee will not retest Tuesday’s low, the 12-month view was the most pessimistic in Reuters polls since December. (Representational image)

With an aim to invest Rs 100 lakh crore over the next five years in the infrastructure sector, the Finance Ministry has constituted a task force to draw up National Infra Pipeline. The pipeline will include greenfield and brownfield projects above Rs 100 crore each, Ministry of Finance said in a tweet on Saturday. The 6-member task force will be headed by DEA Secretary, Secretary of Expenditure, CEO of NITI Aayog or nominees among other members, it added. The report will be submitted by the task force by October 31 on current fiscal Infra Pipeline and by December 31 on Indicative Pipeline for FY21-FY25, it also said. The National Infra Pipeline will include greenfield and brownfield projects above Rs 100 crore each and respective ministry or department will monitor projects for timely and within cost implementation, it noted.

On Friday, the Ministry of Finance officials met Maharatna and Navratna PSU companies’ heads today so as to discuss measures to infuse more liquidity into the system. Ahead of the meeting, DEA Secretary Atanu Chakraborty and Expenditure Secretary  G C Murmu reviewed the capital expenditure being done by the Ministries of Road Transport and Highways, Railways, Telecom and Housing & Urban Affairs.

Meanwhile, the government has announced a slew of reform measures in the last few weeks so as to revive the sagging economy. The private sector has asked the government to infuse additional liquidity into the economy through a stimulus package to boost the economy grappling with a slowdown. In Q1FY20, the GDP grew at a dismal 5 per cent. While the manufacturing sector grew at just 0.6 per cent while ‘Agriculture, Forestry and Fishing’ sector grew at 2 per cent.

[“source=financialexpress”]