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NEW DELHI: Union finance minister Nirmala Sitharaman unveiled Rs lakh crore of infrastructure projects, under National Infrastructure Pipeline , that will be implemented in the next five years as part of the government's spending push in the infrastructure sector. What are key benefits of National Infrastructure Pipeline NIP Economy: Well-planned NIP will enable more infra projects, grow businesses, create jobs, improve ease of living, and provide equitable access to infrastructure for all, making growth more inclusive. Government: Well-developed infrastructure enhances level of economic activity, creates additional fiscal space by improving revenue base of the government, and ensures quality of expenditure focused in productive areas. These projects are on top of Rs 51 lakh crore spent by the Centre and the states during the last six years, Sitharaman said adding the new pipeline consists of 39 per cent projects each by the Centre and states and the balance by 22 per cent by private sector.
Also read: Sitharaman says govt will invest Rs lakh crore in infrastructure over next 5 years. One of the biggest constraints in infrastructure is financing. On the other, it is also fairly obvious that better infrastructure improves productivity.
Indian Economy is now ailing. Along with slowing growth, more-than-desirable inflation raises the fear of a condition called stagflation. In an economy burdened with stagflation, there will be an unusual rise in the price of various commodities even when the demand is low. However, due to low demand, the production falls, which may result in mass unemployment. To implement an infrastructure program of the scale of Rs. In pursuance of this, an annual infrastructure pipeline would be developed. The first meeting of the Task Force was held in September This exercise is expected to be followed up by a periodical review process. NIP will enable a forward outlook on infrastructure projects which will create jobs, improve ease of living, and provide equitable access to infrastructure for all, thereby making growth more inclusive. Out of the total expected capital expenditure of Rs.