India: Finance Ministry sets up task force to identify infra projects for INR100tr investment

  • The government has set up a task force to draw up a list of infrastructure projects that can be set rolling in 2019-20 as it looks at steps to tide over the economic slowdown.
  • The finance ministry, in a statement On 7 Sep 19, said the task force would prepare a road map for the “national infrastructure pipeline” from 2019-20 to 2024-25 under a INR100tr infra plan.
  • The task force headed by Economic Affairs Secretary Atanu Chakraborty would cover greenfield and brownfield projects costing above INR1bn each.
  • The task force would look for financially and technically viable projects that can be started in 2019-20. It would ascertain annual infrastructure costs, guide the ministries concerned in finding appropriate sources of funding and monitor the projects to ensure minimisation of cost and time overrun.
  • Each ministry would be responsible for monitoring their respective projects in terms of cost and deadlines. The panel would also enable marketing of the projects in the pipeline through the India Investment Grid and the National Investment and Infrastructure Fund, among others.
  • The task force would submit its reports on prospective plans for 2019-20 by 31 Oct 19 and those till 2025 by 31 Dec 19.

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