National Infra Pipeline: FM reviews projects
ECONOMY & POLICY

National Infra Pipeline: FM reviews projects

The Finance Minister of India, Nirmala Sitharaman, recently held a meeting to review the progress of 34 projects under the National Infrastructure Pipeline (NIP) in the health and water resources sectors involving investments of Rs 3.6 lakh crore.

The Finance Ministry informed media sources that 24 of these projects worth Rs 80,915 crore are under the supervision of the Health Ministry, while the Department of Water Resources, River Development and Ganga Rejuvenation, oversees 10 large projects worth Rs 2.7 lakh crore.

According to the ministry's statement, substantial progress in project implementation and expenditure by many ministries and departments has been noted, especially in the second quarter.

This was the second assessment meeting held by the Finance Minister with various ministries and departments to monitor and accelerate the NIP project implementation. The meeting's objective was to discuss the progress of NIP projects, expenditure incurred so far, and the initiatives that were taken to expedite the project implementation, the ministry said its statement.

The economy is expected to shrink 7.7% in 2020-21, according to latest reports, and a government task force had drawn up a road map in April for capital investments of Rs 111 lakh crore in infrastructure under the NIP for six years (through FY25), pledging 71% of the expenditure for energy, roads, urban development and railways, keeping in mind, a key role for private investors.

The Finance Minister of India, Nirmala Sitharaman, recently held a meeting to review the progress of 34 projects under the National Infrastructure Pipeline (NIP) in the health and water resources sectors involving investments of Rs 3.6 lakh crore. The Finance Ministry informed media sources that 24 of these projects worth Rs 80,915 crore are under the supervision of the Health Ministry, while the Department of Water Resources, River Development and Ganga Rejuvenation, oversees 10 large projects worth Rs 2.7 lakh crore.According to the ministry's statement, substantial progress in project implementation and expenditure by many ministries and departments has been noted, especially in the second quarter. This was the second assessment meeting held by the Finance Minister with various ministries and departments to monitor and accelerate the NIP project implementation. The meeting's objective was to discuss the progress of NIP projects, expenditure incurred so far, and the initiatives that were taken to expedite the project implementation, the ministry said its statement. The economy is expected to shrink 7.7% in 2020-21, according to latest reports, and a government task force had drawn up a road map in April for capital investments of Rs 111 lakh crore in infrastructure under the NIP for six years (through FY25), pledging 71% of the expenditure for energy, roads, urban development and railways, keeping in mind, a key role for private investors.

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?