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Infrastructure will help the country double the size of GDP by 2025: Nirmala Sitharaman

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The finance minister announced the infrastructure project pipeline for the next five years that will help the country nearly double the size of the GDP to USD 5 trillion by 2025.

At a time when the overall economic growth is slowing, Finance Minister Nirmala Sitharaman’s announcement of Rs 102 lakh crore worth of investment in infrastructure projects over the next five years, can be a trigger for boosting growth, says ICRA. According to the rating agency, the construction sector is likely to be a major beneficiary of this increased investment. The finance minister on Tuesday announced the infrastructure project pipeline for the next five years that will help the country nearly double the size of the GDP to USD 5 trillion by 2025.

“It is a welcome move from the point of view of the infrastructure sector in the country and reinforces the government’s commitment towards making India a leading world economy. It is clear that the government is willing to do the needful and is ready to take the initiative by providing the required funds. Infrastructure projects worth Rs 102 lakh crore for next five years under National Infrastructure Pipeline will provide opportunities to all the stakeholders engaged in areas such as urban development, renewable sector, railways, irrigation, mobility, education, health, water and digital and will pave the way for long term development in all other areas. The step will also go a long way in the ambitious program to make India a USD 5 trillion economy by 2025. It is a good time for everyone present in the infrastructure sector and we all must be prepared to do our bit,” Anshuman Magazine, Chairman & CEO, CBRE India, South East Asia, Middle East & Africa.

“The Finance Minister has unveiled outlay of  Rs.105 lakh crore infrastructure projects to be put out in 2020, which can be termed forward-looking for inclusive growth that promises to create jobs,  enable a better lifestyle. We welcome the announcement under the National Infrastructure Pipeline Coordination Mechanism that will coordinate between center, state, and private sector.  However, implementation of the projects with public-private partnership remains the key factor.Private players are still facing an acute credit crunch. The government needs to address the issues of private players’ difficulties as well. The step taken by the government is a right step towards addressing the current economic setback.
The proposed Single Window Clearance for investments in projects with a definite timeline from the centre and state is a much-needed breather for the industry.  FM also mentioned that the government aims to invest Rs 5 lakh crore in 5 years in the National Infrastructure Pipeline (NIP) that will give boost to the current sluggish real estate market in the country.” Dr Niranjan Hiranandani-  National President- Naredco and Assocham

ALSO READ: Nirmala Sitharaman unveils Rs 102 lakh crore of infra projects for next 5 years

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