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$1.4 trillion on infrastructure development,announces FM Nirmala Sitharaman

As part of its efforts to become a 5 trillion USD economy by 2024, union Finance minister Nirmala Sitharaman announced to invest 1.4 trillion dollars on infrastructure development on a five-year course.

Sitharaman said a task force is appointed in the finance ministry to plan the national infrastructure pipeline over the course of the coming five years. Sitharaman was addressing the annual meeting of the International Monetary Fund(IMF) at Washington.”We are already applying Public-Private Partnership (PPP) models in the country. We have adopted the Asset Recycling model to modernize existing infrastructure, like highways, while providing the government with upfront capital to support new infrastructure,” she said.

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