India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country's economy.

<a href="https://www.wionews.com/india-news/growth-may-have-come-down-but-not-a-recession-yet-sitharaman-264953">Nirmala Sitharaman's </a>comments, as cited in local newspapers, followed data released on Friday that showed <a href="https://www.wionews.com/business-economy/indias-economy-seen-growing-at-47-per-cent-in-september-quarter-265058">India's economic growth </a>slowed to 4.5% in the July-September quarter - its weakest pace since 2013 - upping the pressure on Prime Minister Narendra Modi's government to speed reforms.

"A set of officers are looking into the pipeline of projects that can be readied so that once the fund is ready, it could be front-loaded on these projects," Sitharaman said at a business summit in Mumbai, the newspapers reported.

"That task is nearly completed. Before December 15, we will be able to announce frontloading of at least ten projects," she said.

Modi came to power in 2014 on the promise to improve India's economy and boost foreign investments, but he has struggled to meet those aims due to a lack of structural reforms. Modi won a second term in May and has taken various measures since 2014 to spur growth, including cutting the corporate tax and speeding up privatisation of state-run firms.

But several economic indicators show domestic consumption is weak, and many economists expect the current slowdown could persist for another two years.

India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country's economy.

India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country's economy. Nirmala Sitharaman's comments, as cited in local newspapers, followed data released on Friday that showed India's economic growth slowed to 4.5% in the July-September quarter - its weakest pace since 2013 - upping the pressure on Prime Minister Narendra Modi's government to speed reforms. "A set of officers are looking into the pipeline of projects that can be readied so that once the fund is ready, it could be front-loaded on these projects," Sitharaman said at a business summit in Mumbai, the newspapers reported. "That task is nearly completed. Before December 15, we will be able to announce frontloading of at least ten projects," she said. Modi came to power in 2014 on the promise to improve India's economy and boost foreign investments, but he has struggled to meet those aims due to a lack of structural reforms. Modi won a second term in May and has taken various measures since 2014 to spur growth, including cutting the corporate tax and speeding up privatisation of state-run firms. But several economic indicators show domestic consumption is weak, and many economists expect the current slowdown could persist for another two years.

India plans to invest $1.39 trillion in infrastructure to spur economy

Union Home Minister <a href="https://www.wionews.com/india-news/bjp-will-completely-uproot-naxalism-in-jharkhand-amit-shah-265107">Amit Shah </a>on Saturday said that the Indian economy has moved from the era of policy paralysis, scams and corruption pre-2014 to an era of bold, transparent and decisive decision-making under the Narendra Modi government since 2014.

"Indian Economy has moved from the era of policy paralysis, scams and corruption pre-2014 to one of the era of bold, transparent and decisive decision-making under Narendra Modi Government since 2014," Shah said in an address at the reputed English Daily Awards for Corporate Excellence in Mumbai.

Shah asserted that the current slowdown in economy is a "temporary phase" and the Indian industry which contributes 60 per cent of gross domestic product (GDP) to the economy will join with the vision of Modi government to make India a 5 trillion-dollar economy by 2024.

Expressing hope that the Indian industry and market will tide over this temporary crisis despite a slowdown, the home minister assured the industry that the "government is standing solidly behind them and is tackling all the challenges in a proactive fashion".

He said that the last 5 years were of the "detoxification of the economy" and in the next five years a "series of reforms" will be taken to make it one of the most powerful economies of the world.

"India is already a destination of global companies due to its huge market and FDI is at record level today. Even Sensex and nifty have breached all records," Shah added.

The home minister said that the government is committed to strengthening the industry and the trade and said: "By lowering the corporate tax ranging between 17 to 25 per cent, India has got the distinction of one of the lowest corporate tax levying country. Even fiscal deficit which was 4.5 per cent in 2013-14 has come down to 3.3 per cent and inflation has been checked at 3.3 per cent from 5.9 per cent earlier."

Emphasising on the goods and services tax (GST) and ease of doing business, he said: "The vision of one nation one tax has been realised and a series of labour reforms are in the offing."

"On the front of ease of doing business, India was at the rank of 142 in 2014 but in the last 5 years we jumped to 77 and expressed hope that by 2024, India will be somewhere at the rank of 30," the union minister said.

Shah said that the decision to not join the Regional Comprehensive Economic Partnership (RCEP) was taken in the interest of the industry as India has already free trade agreement (FTA) with China, Australia and New Zealand. "The Modi government has taken the hard decision in the interest of Indian industry," he said.

Referring to a series of measures taken in the field of infrastructure both in the rural and urban areas, he said that the Make in India and Start-up India projects are going to scale new heights in years to come. Stating that India voted to power Narendra Modi in 2014, he said:

"Not a single corruption charge was leveled against the Modi government. The governance has moved from policy paralysis of pre-2014 to one of bold and decisive government."&nbsp;

Union Home Minister Amit Shah on Saturday said that the Indian economy has moved from the era of policy paralysis, scams and corruption pre-2014 to an era of bold, transparent and decisive decision-making under the Narendra Modi government since 2014.

Union Home Minister Amit Shah on Saturday said that the Indian economy has moved from the era of policy paralysis, scams and corruption pre-2014 to an era of bold, transparent and decisive decision-making under the Narendra Modi government since 2014. "Indian Economy has moved from the era of policy paralysis, scams and corruption pre-2014 to one of the era of bold, transparent and decisive decision-making under Narendra Modi Government since 2014," Shah said in an address at the reputed English Daily Awards for Corporate Excellence in Mumbai. Shah asserted that the current slowdown in economy is a "temporary phase" and the Indian industry which contributes 60 per cent of gross domestic product (GDP) to the economy will join with the vision of Modi government to make India a 5 trillion-dollar economy by 2024. Expressing hope that the Indian industry and market will tide over this temporary crisis despite a slowdown, the home minister assured the industry that the "government is standing solidly behind them and is tackling all the challenges in a proactive fashion". He said that the last 5 years were of the "detoxification of the economy" and in the next five years a "series of reforms" will be taken to make it one of the most powerful economies of the world. "India is already a destination of global companies due to its huge market and FDI is at record level today. Even Sensex and nifty have breached all records," Shah added. The home minister said that the government is committed to strengthening the industry and the trade and said: "By lowering the corporate tax ranging between 17 to 25 per cent, India has got the distinction of one of the lowest corporate tax levying country. Even fiscal deficit which was 4.5 per cent in 2013-14 has come down to 3.3 per cent and inflation has been checked at 3.3 per cent from 5.9 per cent earlier." Emphasising on the goods and services tax (GST) and ease of doing business, he said: "The vision of one nation one tax has been realised and a series of labour reforms are in the offing." "On the front of ease of doing business, India was at the rank of 142 in 2014 but in the last 5 years we jumped to 77 and expressed hope that by 2024, India will be somewhere at the rank of 30," the union minister said. Shah said that the decision to not join the Regional Comprehensive Economic Partnership (RCEP) was taken in the interest of the industry as India has already free trade agreement (FTA) with China, Australia and New Zealand. "The Modi government has taken the hard decision in the interest of Indian industry," he said. Referring to a series of measures taken in the field of infrastructure both in the rural and urban areas, he said that the Make in India and Start-up India projects are going to scale new heights in years to come. Stating that India voted to power Narendra Modi in 2014, he said: "Not a single corruption charge was leveled against the Modi government. The governance has moved from policy paralysis of pre-2014 to one of bold and decisive government."

Amit Shah says Indian economy moved to 'bold, decisive decision-making', calls current slowdown 'temporary'

The economic growth slowed to a seven-year low to 5 percent in April to June quarter from 8 percent a year ago, as per the government data. Watch this video to know more.

Domestic factors behind slowdown in Indian economy; Here are the details

The Indian economy in the fourth quarter of 2018-19 witnessed a modest growth of 5.8%. Watch this video to know more.

Indian economy is in grip of a severe slowdown; All you need to know