India to invest Rs102 trillion in infra projects

With an eye to make India a $5 trillion economy within five years, Finance Minister Nirmala Sitharaman, (above) , on Tuesday unveiled Rs102 trillion in infrastructure projects in health, energy, education, rural irrigation and rail/road sectors.

Sitharaman said this was only a follow-up of the announcement Prime Minister Narendra Modi had made in his Independence Day address. Modi had then promised Rs100 trillion for infra projects.

A task force held talks with some 70 stakeholders from these five sectors over four months and identified Rs102 trillion worth of projects, the minister said.

The Centre and the states will each contribute 39% of the costs involved in the projects while the private sector will put in money for the remaining 22 percent.

An amount of Rs 25 trillion will be spent on energy projects, Rs20 trillion on roads and Rs14 trillion on railways.

The Rs102 trillion funding for infra projects would help make India a $5 trillion economy by 2025, Sitharaman added.