Union Minister Nirmala Sitharaman Inaugurates Infrastructure Ventures Valued at More Than Rs 1,000 Crore

The Finance and Corporate Affairs Minister, Nirmala Sitharaman, unveiled seven infrastructure projects totaling over Rs 1,000 crore via virtual means from the national capital on Friday.

For the Central Board of Direct Taxes (CBDT), under the Department of Revenue, Ministry of Finance, the Finance Minister initiated the construction of a Departmental Residential Complex in Faridabad, Haryana. This complex will include 198 quarters of Type-II and III, catering to the housing needs of Income Tax Department officials stationed there.

Additionally, Sitharaman laid the foundation stone for another residential complex in Gurugram’s Sector 53, which will consist of 214 quarters ranging from Type-II to VI, accommodating officers and officials of the Income Tax Department.

Turning to the Central Board of Indirect Taxes and Customs (CBIC), also under the Department of Revenue, Ministry of Finance, the Finance Minister inaugurated a departmental residential complex in Dwarka, New Delhi. This complex, comprising 256 quarters of Type-IV, V, and VI, aims to house middle and senior level officers of the CBIC.

Furthermore, for the Department of Financial Services (DFS), Ministry of Finance, Sitharaman inaugurated several key establishments at Gujarat’s GIFT City, including the new local head office building of the State Bank of India, the International Business Centre building of the Life Insurance Corporation of India, and Canara Bank’s IFSC Banking Unit. Additionally, she inaugurated the new head office building of United India Insurance Company Ltd. in Chennai.

The ministry emphasized that these infrastructure endeavors will stimulate business activities in GIFT City and provide a modern headquarters for United India Insurance Company.

During her address, Sitharaman stressed the importance of timely project planning and completion, urging the relevant departments to ensure adherence to schedules. She also expressed confidence that such projects bolster the morale of officials, demonstrating the government’s commitment to their welfare and encouraging their diligent service towards nation-building.