Finance Ministers of India Current Affairs - 2020
On December 31, 2019, Finance Minister Nirmala Sitaraman announced 102 lakh crore worth projects to be implemented in next 5 years. During the announcement, she also released the report of Task Force on National Infrastructure Pipeline for 2019-2025.
The infrastructure projects are to be introduced in railways, power, urban, irrigation, health and education. These projects will help India achieve its goal of 5 trillion-dollar economy by 2025. Currently, the GDP of India is 2.72 trillion USD and is growing at the rate of 6.81%
Currently 25 lakh crore rupees energy projects have been lined up. In railway sector, 14 lakh crore rupees of projects are currently being implemented and in health sector 20 lakh crore rupees projects have been lined up. Apart from this, 3 lakh crore rupees projects will be added to pipeline sector.
Off late, several international financial organizations have been projecting a decline in the growth rate of India. The IMF projected India’s growth rate at 6.1% in 2019 and the world bank projected India’s growth rate at 6%. These projected growth rates were lower than the previous growth rates of the country. Therefore, these new economical measures are important to boost the economy and help India achieve its target.
Tags: 5 Trillion Dollar Economy • Economic Growth • Finance Ministers of India • Finance Ministry • Growth rate
Famous lyricist, poet and film director, Gulzar has been conferred with the Indira Gandhi National Integration Award. The award was given to mark the 28th death anniversary of the late Prime Minister Indira Gandhi.