FM Nirmala Sitharaman announces 'Infra projects worth 102 lakh crores identified'

Forging India's investment plan for 2020, Finance Minister Nirmala Sitharaman, on Tuesday, anunced Investment task force has identified infrastructure projects worth 102 lakh crore for next 5 years, at year-ending Finance Ministry press briefing. task force which was formed in August has consulted with 70 stakeholders to identify key projects, said Finance Minister. Highlighting key areas of investment areas, Sitharaman listed -  Power - including renewable, railways, agriculture, irrigation, mobility, health, water, and digital sector.

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FM: "102 lakh crore worth infra projects"

"In line with anuncement me by PM in his Independence Day 2019 speech, to make infrastructure investment worth Rs. 100 lakh crore for next five years, a task force was formed to identify projects. Today, 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 bulk of pipeline project," said Sitharaman. This anuncement of Finance Minister comes ahe of Union Budget which will be presented by her on February 1, 2020.

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CII predicts Ecomy rise in 2020

Earlier on Monday, Confederation of Indian Industry (CII) predicted that ecomy would recover and overcome its slowdown in 2020. CII president Vikram Kirloskar that re would be a subdued GDP in third quarter as well, he maintained that ecomy would bounce back in period reafter. This development comes a few days after Centre for Ecomics and Business Research (CEBR), a UK based think tank stated that India would achieve goal of $5 trillion ecomy by year 2026. 

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Indian Ecomy hits 7-year low with 4.5% GDP

Earlier in vember 29, India's second-quarter GDP (July-September) numbers stood at 4.5% - slowest growth in almost seven years. previous quarter (April-June) GDP numbers were at 5% and Q2 (2018-2019) stood at 7%. This development comes inspite of government's various ecomic moves like merger of 9 PSU banks into 4, major corporate tax cuts, policy changes in automobile sector, reduction in tax regulations to boost foreign income, attract investors and increase consumer demand. government currently follows base year of 2011-12.

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