Niti Aayog's Amitabh Kant hails Sitharaman's Rs 102 Lakh crore infrastructure pipeline

After Finance Minister Nirmala Sitharaman, on Tuesday, announced that the Investment task force has identified infrastructure projects worth 102 lakh crore for the next 5 years, at the year-ending Finance Ministry press briefing, Niti Aayog's CEO Amitabh Kant complimented the finance minister calling the investment plan a great initiative. Kant took to Twitter to compliment Nirmala Sitharaman and also expressed his pleasure to be a part of the ambitious initiative.

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FM in the press conference

The Finance Minister in the press conference cited Prime Minister Narendra Modi's independence day speech which spoke about investing Rs100 lakh crore in infrastructure. "In line with the announcement made by PM in his Independence Day 2019 speech, to make infrastructure investment worth Rs. 100 lakh crore for the next five years, a task force was formed to identify projects. Today, the 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 the bulk of the pipeline project," said Sitharaman. This announcement of the Finance Minister comes ahead of the Union Budget which will be presented by her on February 1, 2020", Sitharaman said.

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CII predicts the Economy rise in 2020

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

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