Union Minister for Finance & Corporate Affairs Nirmala Sitharaman in a virtual meeting today with CEO, NITI Aayog and Secretaries of 22 Infrastructure Ministries/Departments discussed post-budget action points for infrastructure roadmap ahead including NIP implementation. This was the third review meeting by the Finance Minister with Ministries/Departments about the importance of National Infrastructure Pipeline (NIP) and infrastructure sector to ensure a faster post covid-19 recovery of the economy. It was discussed in the meeting, that in the year, when countries across the globe have been dealing with the challenges posed by Covid-19 pandemic, the NIP has shown substantial progress. The NIP was launched with 6,835 projects; the project pipeline has now been expanded to nearly 7,600 projects. It has witnessed accelerated spending on infrastructure projects in Ministries specially in Q2/Q3 FY21. It has helped in targeting substantial increase in infrastructure expenditure in many Ministries in FY21 over expenditure done in FY20. Around 216 projects worth Rs. 74,067 crore under GoI infrastructure ministries have been completed till Q3 FY 21. Around 678 projects worth Rs. 6 lakh crore have progressed from the lower stage to the upper stage of project formulation and implementation till Q3 FY 21.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
