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Prelims Syllabus : Economics - Infrastructure Mains Syllabus : GS-III Infrastructure: Energy, Ports, Roads, Airports, Railways etc.

Why in News?

  • The task force headed by Atanu Chakraborty on National Infrastructure Pipeline (NIP) submitted its final report to the Finance Minister recently.
  • The summary report for, National Infrastructure Pipeline (NIP), 2020-25 was released by the finance minister in the month of December,2019.

Highlights of the Report:

  • The final report has revised up NIP from earlier Rs 100 lakh crore in light of additional data provided by central ministries/state governments since the release of summary NIP report.
  • The taskforce has forecast an investment need of ₹111 lakh crore over the next five years (2020-2025) to build infrastructure projects and drive economic growth.
  • Bulk Share: Energy, roads, railways and urban projects are estimated to account for the bulk of projects (around 70%).

Various Measures Suggested by the Report:

  • Aggressive Push towards Asset Sales
  • Monetisation of Infrastructure Assets
  • Setting up of Development Finance Institutions
  • Strengthening the Municipal Bond MARKET

Various Committees need to be set up (Recommended in the Report):

  • The task force has also recommended set up of three committees:
    • Timely Execution: Panel to monitor NIP progress and eliminate delays.
    • Follow Up: Steering committee in each infrastructure ministry for following up implementation
    • Raising Financial Resources: Committee in the Department of Economic Affairs for raising financial resources for the NIP.

About National Infrastructure Pipeline:

  • The task force was set up after the Prime Minister, in his Independence Day speech of 2019, promised to roll out an infrastructure push worth ₹100 trillion over five years to make India a $5 trillion economy.
  • NIP will enable a forward outlook on infrastructure projects which will create jobs, improve ease of living, and provide equitable access to infrastructure for all, thereby making growth more inclusive.
  • NIP includes economic and Social Infrastructure Projects.
  • It also includes both greenfield and Brownfield Projects.
  • It will help in stepping-up annual infrastructure investment to achieve the Gross Domestic Product (GDP) of $5 trillion by 2024-25.
  • The Centre and states are expected to have almost equal share in implementing NIP, while the private sector contribution is expected to be around 21%.
    • Out of the total expected capital expenditure of Rs 111 lakh crore
    • Projects worth Rs 44 lakh crore (40 % of NIP) are under implementation.
    • Projects worth Rs 33 lakh crore (30 % of NIP) are at conceptual stage.
    • Projects worth Rs 22 lakh crore (20 % of NIP) are under development.
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