The National Programme and Project Management Policy Framework (NPMPF), launched in October 2020, can give teeth to India’s plans for massive infrastructure development.
Synopsis
The wave of financial liberalisation and free market ideology led to a gradual dismantling of the development financing structure, with several institutions such as the Industrial Development Bank of India (IDBI) and the Industrial Credit and Investment Corporation of India (ICICI) undergoing business transformation.
Budget 2021 is likely to serve as a bridge for resilient and inclusive growth, after a period of turbulent and elevated macroeconomic uncertainty. Among the key measures announced is the push to infrastructure development.The need for infrastructure investment is large, urgent and ever increasing. The National Infrastructure Pipeline (NIP) task force report pegged India’s infrastructure investment requirement at ₹111 lakh crore over 2019-25.
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