[ecis2016.org] Here is everything you need to know about the National Infrastructure Pipeline
Betterment of infrastructure facilities has been a key agenda of the central government, India’s ambition of sustaining its relatively high growth, depends largely on this one factor. With that objective, the government launched the National Infrastructure Pipeline (NIP) programme. The NIP programme was first announced by prime minister Narendra Modi during his 2019 Independence Day speech with an initial capital of Rs 102 lakh crores.
You are reading: National Infrastructure Pipeline or NIP: All you need to know
What is National Infrastructure Pipeline or NIP?
Launched to cover the fiscal years between 2019 and 2025, the National Infrastructure Pipeline is a ‘first-of-its-kind, whole-of-government exercise to provide world-class infrastructure to citizens and improve their quality of life’. The NIP covers both, economic and social infrastructure projects.
The NIP or National Infrastructure Programme will enable a forward outlook on infrastructure projects which will create jobs, improve ease of living and provide equitable access to infrastructure for all, thereby making growth more inclusive. The objective of the National Infrastructure Pipeline is to act as an enabler to provide and infuse the funds that India would need for infrastructure development by 2030.
National Infrastructure Pipeline: Objective
Infrastructure development and upgrade will play a major role in making India a USD 5-trillion economy by 2025, even as more and more of its people move to cities. This is particularly important, since the number of metropolitan cities in India is estimated to increase from 46 to 68 in 2030. The National Infrastructure Pipeline programme aims to plug the deficiencies in infrastructure and smoothen the process of urbanisation by promoting ease of living and facilitating economic activity.
According to a report by the task force set up by the centre for the National Infrastructure Pipeline under Atanu Chakraborty, the key objectives of the NIP programme are:
- To provide a positive and enabling environment for significant private investment in infrastructure at all three levels of the government.
- To design, deliver and maintain public infrastructure projects, to meet efficiency, equity and inclusiveness goals.
- To design, construct and maintain public infrastructure, to meet disaster-resilience goals.
- To create a fast-track institutional, regulatory and implementation framework for infrastructure.
- To benchmark infrastructure performance to global best practices and standards.
- To leverage technology to enhance service standards, efficiency and safety.
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National Infrastructure Pipeline projects
A bottom-up approach was adopted for the National Infrastructure Pipeline, wherein all projects costing greater than Rs 100 crores per project (under construction, proposed greenfield projects, brownfield projects and those at the conceptualisation stage) were sought to be captured.
National Infrastructure Pipeline investment
While the centre has a 39% stake in the NIP, respective states have 40% share in the programme. The remaining 21% funding will be sought from the private sector.
National Infrastructure Pipeline: How will it help the economy?
The National Infrastructure Pipeline will enable more infrastructure projects, power businesses and result in job creation, improve ease of living and provide access to infrastructure for all, thereby, making growth more inclusive.
National Infrastructure Pipeline: How will it help the government?
Developed infrastructure would enhance the level of economic activity, improve the revenue base of the government and create additional fiscal space and ensure quality of expenditure focused on productive areas.
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National Infrastructure Pipeline: How will it help developers?
The National Infrastructure Pipeline provides better prepared projects, reduces aggressive bids/failure in project delivery while ensuring enhanced access to sources of finance as a result of increased investor confidence.
National Infrastructure Pipeline: How will it help banks and investors?
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The National Infrastructure Pipeline will build investor confidence, as identified projects are better prepared so that exposures are less likely to suffer and emphasis is given on active project monitoring by competent authorities, thus, ensuring better returns.
National Infrastructure Pipeline latest updates
National Infrastructure Pipeline coverage expanded in Budget 2021
February 1, 2021: In the Budget 2021, the centre expanded its Rs 111-lakh-crore National Infrastructure Pipeline to cover 7,400 projects by 2025.
“The National Infrastructure Pipeline, which was launched with 6,835 projects, has now been expanded to 7,400 projects. Around 217 projects worth Rs 1.10 lakh crores, under some key infrastructure ministries, have been completed. The NIP programme will require an increase in funding from the government as well as the financial sector,” finance minister Nirmala Sitharaman said in her Budget speech on February 1, 2021.
To achieve this, the centre plans to create institutional structures, provide a significant thrust on the monetisation of assets and enhance the share of capital expenditure in central and state budgets.
FM launches an online dashboard for National Infrastructure Pipeline
August 10, 2020: Union finance minister Nirmala Sitharaman inaugurated the National Infrastructure Pipeline (NIP) Online Dashboard on August 10, 2020, through video conferencing. The dashboard has been envisaged as a one-stop solution for information on infrastructure projects, for all stakeholders.
“The NIP will provide a boost to the vision of an Atmanirbhar Bharat. The availability of NIP projects on IIG will ensure easy accessibility to updated project information and attract investors for public-private partnership (PPP) projects. This is a great step in the direction of implementing NIP, giving a fillip to infrastructure development in the country,” the FM said.
National Infrastructure Pipeline FAQs
When was the National Infrastructure Pipeline (NIP) programme launched?
The National Infrastructure Pipeline (NIP) programme was launched by Prime Minister Narendra Modi during his Independence Day speech in 2019.
How much capital was initially set aside under NIP?
Finance minister Nirmala Sitharaman, in her budget speech of 2019-2020, announced an outlay of Rs 111 lakh crores, over the next five years, for infrastructure projects.
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