Question: As measure to tide over economic slowdown in the country the Union government in recent decision has now set a target of spending how much money in infrastructure development during the fiscal year 2019-20 to 2024-25?
(a) Rs. 5000 crore
(b) Rs. 10,000 crore
(c) Rs. 100 lakh crore
(d) Rs. 10 lakh crore
Answer: (c)
Related facts:
- The government has set up a task force to speed up infrastructure development to identify projects on which 100 lakh crore is to be spent.
- The task force in this regard has been constituted by Union Finance Minister Nirmala Sitharaman, which will be headed by Economic Affairs Secretary Atanu Chakraborty.
- It will draw up National Infrastructure Pipeline of Rs 100 lakh crore ($1.4 trillion) for the fiscal year 2019-20 to 2024-25.
- The government has set a target of spending 100 lakh crores on infrastructure by the year 2024-25 to become a five-trillion dollar economy.
The Terms of Reference (ToR) of the task force:
- To identify technically feasible and financially/ economically viable infrastructure projects that can be initiated in FY 2019-20;
- To list the projects that can be included in the pipeline for each of the remaining 5 years between FY 2021-25;
- To estimate annual infrastructure investment/capital costs;
- To guide the Ministries in identifying appropriate sources of financing and to suggest measures to monitor the projects so that cost and time overrun is minimized.
- The National Infrastructure Pipeline will include Greenfield and Brownfield projects costing above Rs 100 crore.
- It enables robust marketing of the pipeline of projects requiring private investment through the India Investment Grid and National Investment & Infrastructure Fund (NIIF).
- The Task Force will submit its Report on Pipeline by 31st of October for the fiscal year 2019-20 and on the indicative pipeline for fiscal years 2021- 25 by 31st of December 2019.
Links:
https://m.economictimes.com/news/economy/infrastructure/task-force-to-draw-national-infrastructure-pipeline-worth-1-4-trillion/articleshow/71021425.cms
https://www.zeebiz.com/india/news-rs-100-lakh-crore-project-modi-govt-sets-up-task-force-to-draw-national-infrastructure-pipeline-key-details-110083