The Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman inaugurated the National Infrastructure Pipeline (NIP) Online Dashboard in New Delhi on Monday through video conferencing. The online dashboard is envisaged as a one-stop solution for all stakeholders looking for information on India’s infrastructure projects. The dashboard is hosted on the India Investment Grid (IIG) (www.indiainvestmentgrid.gov.in). IIG is an interactive and dynamic online platform that showcases updated and real-time investment opportunities in the country.
The inauguration was attended by members of the high-level task force on infrastructure and secretaries of various ministries and government departments.
Speaking at the event, Sitharaman said, “NIP will provide a boost to the vision of an Aatmanirbhar Bharat. The availability of NIP projects on IIG will ensure easy accessibility to updated project information and attract investors for public-private partnership (PPP) projects. This is a great step in the direction of implementing NIP, giving a fillip to infrastructure development in the country.”
IIG is an interactive and dynamic online platform to showcase the best of investment opportunities in India to the global investor community. Developed and managed by Invest India, the National Investment Promotion and Facilitation Agency, IIG serves as the gateway to investments in India and is also widely used by Indian missions and embassies across the world.
In her budget speech of 2019-20, Finance Minister Sitharaman had announced an outlay of Rs 1 trillion for infrastructure projects over the next five years. The budget announcement followed the Independence Day speech by Prime Minister Narendra Modi, wherein he had said, “For the development of modern infrastructure, an amount of Rs 1 trillion has been earmarked for this period, which will create new job opportunities besides improving the living standards.”
A high-level task force had subsequently submitted a final report on NIP with a projected infrastructure investment of Rs 1.11 trillion during FY2020-25.
NIP is a first-of-its-kind initiative to provide world-class infrastructure across the country and improve the quality of life for all citizens. NIP will improve project preparation, attract both domestic and foreign investments into infrastructure and will be crucial for attaining the target of becoming a $5 trillion economy by FY2025. NIP covers both economic and social infrastructure projects- based on the updated Harmonised Master List of Infrastructure.
Out of the total expected capital expenditure of Rs 1.11 trillion, projects worth Rs 440 billion (40 per cent) are under implementation, projects worth Rs 330 billion (30 per cent) are at a conceptual stage, projects worth Rs 220 billion (20 per cent) are under development and the balance projects worth Rs 110 billion (10 per cent) are unclassified. The entire gamut of projects will now be hosted on IIG to provide visibility to NIP and attract investments from global and 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.
Sitharaman has asked all concerned departments and ministries to immediately update the status of projects on the NIP portal and keep it updated in real-time. She has also asked all concerned departments and ministries to show concrete progress in terms of project and reforms implementation.