As part of its goal to become a $5 trillion economy by 2024, India plans to spend $1.4 trillion on its infrastructure in next five years, Union Finance Minister Nirmala Sitharaman reportedly conveyed. Addressing the annual meeting of the International Monetary Fund (IMF), Sitharaman said a task force has been constituted in the finance ministry that will draw up a national infrastructure pipeline for the next five years. India has taken various steps to enhance infrastructure investment by launching innovative financial vehicles such as Infrastructure Debt Funds (IDFs), Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs) and laying down a framework for municipal bonds. India is also trying to develop brownfield assets as separate asset class for infrastructure investment.