Quick Summary
Union Minister for Finance Corporate Affairs Smt. 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
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FAQ :
The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, chaired the virtual meeting.
The NIP is a project pipeline launched with 6,835 projects, which has now expanded to nearly 7,600 projects, aimed at boosting infrastructure spending for economic recovery.
Substantial progress has been shown, with accelerated spending in Q2/Q3 FY21. Around 216 projects worth Rs. 74,067 crore were completed by Q3 FY21, and 678 projects worth Rs. 6 lakh crore have progressed in formulation and implementation.
The CEO of NITI Aayog presented on asset monetisation, highlighting various models and discussing the finalisation of targets for monetising core infrastructure assets.
Ministries were urged to aim for more than NIP targets by actively seeking project funding through innovative structuring and financing, supporting private sector spending, exploring PPP modes, and using government funding for projects not suitable for PPP.
The Finance Minister requested full and personal engagement from secretaries in NIP implementation, updating the NIP portal, and expediting project execution, with regular review meetings to be held.
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