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The path to recovery

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Union finance minister Nirmala Sitharaman recently announced a major program unveiling nationwide infrastructural projects worth Rs 102 lakh crore to boost India's economic growth and achieve PM Narendra Modi's ambitious $5 trillion goal for 2024-25.

However, until recently, policymakers were in denial mode, ignoring the ominous signs of the slowdown.

Infrastructure push

The nature and details of how this private-public working framework shall function as part of the National Infrastructure Pipeline (NIP) were not disclosed. A task force will spearhead consultations with various sectors over the next four to five months in a hope to actualise these projects at the earliest.

This sounds highly ambitious given how most difficulties in infra-based investments have been connected with other issues or extra-market factors involving delays in land acquisition processes, enforcement of contracts and delay in court-case resolutions.

The 'big infrastructure push' by the government may be welcomed in-principle for trying to signal a pro-growth linking government expenditure in form of infra-linked investments. Based on the FM's press conference, the NIP focuses on sectors like traditional and renewable power,........

© DailyO