Why is it in the news?
- The Government constituted an inter-ministerial task force to draw up annual National Infrastructure Pipeline for each of the five years.
Highlights of the Report
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The task force will be headed by Economic Affairs Secretary.
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It will submit its Report on the pipeline for FY 2019-20 by October 31, 2019 and on the indicative pipeline for FY 2021-25 by December 31, 2019.
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The terms of reference of the task force will include:
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Identifying technically feasible and financially/ economically viable infrastructure projects that can be initiated in FY 2019-20.
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Listing the projects that can be included in the pipeline for each of the remaining 5 years between FY 2021-25.
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Estimating annual infrastructure investment/capital costs.
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Guiding the Ministries in identifying appropriate sources of financing
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Suggesting measures to monitor the projects so that cost and time overrun is minimized.
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Significance of Infrastructure building:
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Availability of quality infrastructure is a pre-requisite to achieve broad-based and inclusive growth on a sustainable basis.
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Investment in infrastructure is also necessary for sustaining the high growth rate of India.
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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 infra.
Source
The Hindu.