After Finance Minister Nirmala Sitharaman, on Tuesday, announced that the Investment task force has identified infrastructure projects worth 102 lakh crore for the next 5 years, at the year-ending Finance Ministry press briefing, Niti Aayog's CEO Amitabh Kant complimented the finance minister calling the investment plan a great initiative. Kant took to Twitter to compliment Nirmala Sitharaman and also expressed his pleasure to be a part of the ambitious initiative.
My compliments to FM @nsitharaman for launching the 100 Lakh Cr Infrastructure pipeline of projects.This is a Gr8 initiative & will give a major impetus to infra development & financing. It was a pleasure for @NITIAayog to work in partnership with @FinMinIndia in this exercise.— Amitabh Kant (@amitabhk87) December 31, 2019
The Finance Minister in the press conference cited Prime Minister Narendra Modi's independence day speech which spoke about investing Rs100 lakh crore in infrastructure. "In line with the announcement made by PM in his Independence Day 2019 speech, to make infrastructure investment worth Rs. 100 lakh crore for the next five years, a task force was formed to identify projects. Today, the task force has identified Rs 102 lakh crore worth of projects, after conducting 70 stakeholder consultations in a short period of four months. Power - including renewable, railways, agriculture, irrigation, mobility, health, water, and digital sector form the bulk of the pipeline project," said Sitharaman. This announcement of the Finance Minister comes ahead of the Union Budget which will be presented by her on February 1, 2020", Sitharaman said.
Earlier on Monday, the Confederation of Indian Industry (CII) predicted that the economy would recover and overcome its slowdown in 2020. The CII president Vikram Kirloskar that there would be a subdued GDP in the third quarter as well, he maintained that the economy would bounce back in the period thereafter. This development comes a few days after the Centre for Economics and Business Research (CEBR), a UK based think tank stated that India would achieve the goal of $5 trillion economy by the year 2026.