Budget 2020: Govt launches Rs 103 lakh cr infrastructure projects under NIP; logistic policy to come soon: Nirmala Sitharaman

New Delhi: To augment India’s infrastructure and create jobs, the government has launched Rs 103 lakh crore infra projects and will release a logistic policy soon, besides accelerating highways construction, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Union Budget in Parliament, Sitharaman said Rs 1.7 lakh crore has been provided for transport infrastructure in 2020-21. The minister said Rs 103 lakh crore projects, under the National Infrastructure Pipeline (NIP), was launched in line with Prime Minister Narendra Modi’s announcement of Rs 100 lakh crore infrastructure investment in five years. “The prime minister announced Rs 100 lakh crore investment in infrastructure in next five years. NIP was launched on December 31, 2019 with Rs 103 lakh crore project pipeline…These new projects include housing, safe drinking water, clean energy, health, modern railway, airport, metro bus, logistics …,” she said in her budget speech. [caption id=“attachment_6013191” align=“alignleft” width=“380”] Representational image. Reuters[/caption] Sitharaman said: “NIP is improving the ease of living for every citizen. Generic and sectoral reforms are there…There is huge employment opportunity in construction, operation and maintenance of projects.” She said infrastructure agencies of the government will involve youth power in start-ups. “A national logistic policy will soon be released,” she said and added there will be a single logistic window. Besides, accelerated development of highways will be taken up with 2,500 km access controlled highways and 9,000 km of economic corridor. In addition, there will be 2,000 km each of strategic highway projects and port connectivity projects, she said. The minister said Delhi-Mumbai Expressway and two other projects will be completed by 2023 and 12 highway projects worth 6,000 km will be monetised before 2021. She said focus was also on Inland Waterways and Jal Vikas Marg development besides aviation. She said 100 more airports would be added by 2024 under the UDAN scheme. Follow full coverage of Union Budget 2020-21 here