Categories: Business

Government taking steps to attract FDI in infra to address cash crunch says gadkari

Photo: PTI (FILE)

Government taking steps to attract FDI in infra

new Delhi. Union Minister Nitin Gadkari said on Tuesday that the government is making efforts to attract foreign direct investment (FDI) in the infrastructure sector to address the cash problem in the economy affected by Kovid-19. The Minister for Roads, Transport, Highways and MSME (Micro, Small and Medium Enterprises) also said that talks are on with various pension funds, insurance funds and financial institutions. In the webinar (Internet-conducted seminar) on road development in the country, Gadkari said, "The infrastructure sector is the most economically viable industry." The internal rate of return on the project is very good. "

He said, "We are trying to get FDI in the infrastructure sector because 100 percent foreign direct investment is allowed in it. We are trying to add insurance fund, pension fund etc. We are also negotiating with the World Bank, Asian Development Bank, and we are taking fast steps in this direction. ”The Minister urged private companies to join hands with the government and said that the economy affected by Corona virus is at a critical stage. Passing and need cash. He said that we should turn the Kovid-19 crisis into opportunity because the world is now believing that India is better in terms of investment. The government has taken a policy decision in terms of projects. Under this, the project will be offered only when 90 percent land acquisition and regulatory approvals like forest and environment have been received.

Gadkari said, "We are trying to get maximum investment in the infrastructure sector. Today there is a lot of opportunity in highways, electricity, transport, water, communication and other sectors. "He said that industrial development and employment generation is not possible without advancing the infrastructure sector. The minister also emphasized on reducing the logistics cost. He said that the Delhi-Mumbai Expressway costing Rs 1 lakh crore will reduce travel time between the two metros. This will reduce costs by delivering goods. "There is also a lot of opportunity in the field of alternative fuels and electricity," he said. The minister said that the target is to construct a highway worth Rs 15 lakh crore in the next two years.

This post was published on July 28, 2020 8:16 pm

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