Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Infrastructure

Question:

Infrastructure sector is a key driver for the Indian economy, in fact, it is the backbone for the long term success of every economy. This sector is highly responsible for propelling India's overall development and enjoys intense focus from government for initiating policies that would ensure time-bound creation of the world class infrastructure in the Indian Economy. Infrastructure sector includes Urban development, power, bridges, dams, roads etc. It is also important to develop rural infrastructure facilities as India has been a rural economy and by neglecting the infrastructure development in rural areas, the economy cannot sustain in long term.

The infrastructure can be divided into two categories i.e, Economic and Social. During Covid-19, the Health Infrastructure has been improved in a significant manner. In order to meet India's aim of reaching a US $5 Trillion economy by 2025 infrastructure development is a need of hour. The government has launched the National Infrastructure pipeline combined with other allied initiatives such as 'Make in India' and the product linked incentive schemes to augment the growth of Infrastructure sector. Historically, more than 80% of the country's infrastructure spending has gone towards funding for transportation, electricity water and irrigations etc. Therefore, the infrastructure sector acts as a catalyst for Indian economic growth and development.

The Government of India has launched a mega project to boost up its infrastructure in order to meet a US $5 Trillion Economy by 2025. Identify the value of that project from the following :

Options:

Product linked incentive scheme

Make in India

Aatam Nirbhar Bharat

National Infrastructure Pipeline (NIP)

Correct Answer:

National Infrastructure Pipeline (NIP)

Explanation:

The correct answer is option (4) : National Infrastructure Pipeline (NIP)

The passage mentions specifically that "In order to meet India's aim of reaching a US $5 Trillion economy by 2025 infrastructure development is a need of hour. The government has launched the National Infrastructure pipeline combined with other allied initiatives such as 'Make in India' and the product linked incentive schemes to augment the growth of Infrastructure sector."