On August 10, 2020, Union Minister for Finance & Corporate Affairs Nirmala Sitharaman inaugurated an information repository, in the form of an online dashboard, for all projects identified under the National Infrastructure Pipeline (NIP) through video conferencing from New Delhi. The dashboard hosted on the India Investment Grid (IIG) website “www.indiainvestmentgrid.gov.in” will be a one stop solution providing information on infrastructure projects in New India to all stakeholders.
About NIP:
It is a first-of-its-kind government effort to provide world-class infrastructure across India in five years i.e. 2020-2025 through an investment (both domestic & foreign) of Rs 111 Lakh crore. In the budget speech of 2019-2020, Nirmala Sitharaman announced an outlay of Rs 100 lakh Crore for infrastructure projects over the next 5 years.
- After that, a high level Task Force headed by Atanu Chakraborty, Secretary, Department of Economic Affairs (DEA) submitted a final report on NIP with projected infrastructure investment of Rs 111 Lakh Crore during FY 2020-25.
- NIP also helps in achieving the target of a $5 trillion economy by FY 2025.
- NIP covers both economic and social infrastructure projects- based on the updated Harmonized Master List of Infrastructure.
About IIG:
IIG is a pan-India database, developed and managed by Invest India, the National Investment Promotion and Facilitation Agency, showcases real-time investment opportunities across sectors to the global investor community and also enables them to communicate with project promoters.
- Apart from above, it also acts as a monitoring and evaluation tool used by the concerned ministries/departments and Department of Economic Affairs (DEA) for the implementation and actual progress of each and every project under NIP.
- IIG allows investors to: Search a pan-India database for investment opportunities across sectors Track the progress of preferred projects and indicate interest Directly communicate with project promoters.
Recent Related News:
On May 29, 2020, the Ministry of Finance appointed PR Jaishankar as the MD (Managing Director) of the India Infrastructure Finance Company Limited (IIFCL) for 3 years. The Ministry also appointed Harsha Bungari as Deputy Managing Director (DMD) of Exim Bank.
About Ministry of Finance:
Minister of State (MoS)– Anurag Singh Thakur
Departments – 5: Department of Economic Affairs, Department of Expenditure, Department of Revenue, Department of Investment and Public Asset Management, and Department of Financial Services.
