Union Finance Minister Nirmala Sitharaman said that a National Infrastructure Pipeline (NIP) Coordination Mechanism would be launched, comprising the Centre, states and private sector, for detailed planning, information dissemination and monitoring implementation of the NIP framework.

Addressing the media here on Tuesday (December 31), the finance minister said that in line with the announcement made by Prime Minister Narendra Modi in his Independence Day 2019 speech, a task force was formed to identify projects for infrastructure investment worth Rs 100 lakh crore for thenext five years.

Sitharaman said that the task force created by the government for infrastructure has recommended projects worth Rs 102 lakh crore under the National Infrastructure Pipeline, going beyond the government`s initial target of Rs 100 lakh crore.

The FM further said that investment of another Rs 3 lakh crore would be added to the pipeline and added that around 63 per cent of the projects in the pipeline are firmed up.