Anand Rathi: National Infrastructure Pipeline, Well-Intentioned But Ambitious

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Anand Rathi Report

We recently hosted Shri Baldeo Purushartha (Joint Secretary, Infrastructure Policy and Finance, the Department of Economic Affairs, the Ministry of Finance of the Government of India) for his perspective on the current state of affairs and the way forward for infrastructure development in India, with special emphasis on the recently announced ‘National Infrastructure Pipeline’. The Joint Secretary said that even though the National Infrastructure Pipeline (NIP) is ambitious, such a grand vision is necessary if India’s economic growth is to be revitalised, infrastructure to improve and people’s lives eased. For this, greater cooperation between the Centre, state and private sectors, and general policy as well as financial reforms are critical.

The pipeline would be reviewed periodically; not-so-relevant projects making way for more relevant/ critical projects (based on the need of the hour). Given this, the NIP would see projects being added, and irrelevant projects removed to better reflect the vision.

Our view on this is though the Covid-compelled disruption makes the already ambitious FY20-FY25 targeted plan more challenging, any success with efforts to iron out issues (which have plagued infrastructure development in India) as a part of this exercise would definitely have lasting effects for years to come, and could change the way infrastructure development is approached in India. The well-intentioned pipeline gets many matters right, but success would rest on the government’s ability to implement the plan well.

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Anand Rathi NIP Sector Update.pdf

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