Sitharaman inaugurates dashboard
Minister for Finance & Corporate Affairs Nirmala Sitharaman has inaugurated the National Infrastructure Pipeline (NIP) Online Dashboard for all stakeholders looking for information on infrastructure projects in New India. here today through video conferencing.
The online dashboard, inaugurated on 10 Aug 2020, is envisaged as a one-stop solution
It is being hosted on the India Investment Grid (IIG), an interactive and dynamic online platform that showcases updated and real-time investment opportunities in the country.
IIG allows investors to search a pan-India database for investment opportunities across sectors and track the progress of preferred projects and indicate interest. It also allows direct communication with project promoters.
In the budget speech of 2019-2020, Finance Minister Smt. Sitharaman announced an outlay of Rs.100 lakh crore for infrastructure projects over the next 5 years.
In furtherance to this, a high-level Task Force has submitted a final report on the National Infrastructure Pipeline with projected infrastructure investment of Rs.111 Lakh crore during FY 2020-25.
NIP will help improve project preparation, attract investments (both domestic and foreign) into infrastructure, and will be crucial for attaining the target of becoming a US$5 trillion economy by FY2025.
NIP covers both economic and social infrastructure projects- based on the updated Harmonized Master List of Infrastructure.
Out of the total expected capital expenditure of Rs.111 lakh crore, projects worth Rs.44 lakh crore (40%) are under implementation, projects worth Rs.33 lakh crore (30%) are at a conceptual stage, projects worth Rs.22 lakh crore (20%) are under development (project identified and DPR prepared, but yet to draw-down funds) and the balance projects worth Rs.1 lakh crore (10%) are unclassified.
The entire gamut of projects will now be hosted on IIG to provide visibility to NIP and attract investments from global & domestic investors.
The NIP project database under Volume III of the Final Report of the NIP Task Force is made available on IIG in order to provide access to updated project-level information for investments across infrastructure sectors. The Digital platform will provide greater visibility to projects and also achieve the mandate of the NIP to market the projects in an efficient manner.
The NIP project database hosted on India Investment Grid (IIG) would provide visibility to the NIP and help in financing with prospective investors; domestic and foreign, able to access updated project-level information. In addition, it is also a monitoring and evaluation tool to be used by the concerned ministries/departments and DEA to monitor the implementation and actual progress vis-à-vis initial estimates of the NIP for each and every project.
Minister Sitharaman has asked all concerned departments and ministries to immediately update the status of projects on NIP portal and keep it updated in realtime. She has also asked all concerned departments and ministries to show concrete progress in terms of project and reforms implementation. fiinews.com
