\n
\n
New Delhi, Jul 12 (PTI): Union Transport Minister Nitin Gadkari on Tuesday said the government will raise funds from capital markets for road projects.<\/p>\n
The minister further said despite fears of global recession, there is no problem in funding infrastructure sector projects.<\/p>\n
\u201cNow I am going to the capital market. I don\u2019t have financial resources problems.<\/p>\n
\u201cBut, I don\u2019t want to use the finances of rich people. I am going to share market, and there I am going to take investments from small people \u2014 Rs 1 lakh, Rs 2 lakh, where I am giving them a guaranteed return of 8 per cent,\u201d Gadkari said while addressing an event here.<\/p>\n
Thus, I will get tremendous money from the market, he added.<\/p>\n
The minister said the construction equipment industry\u2019s size is Rs 50,000 crore, but due to the rise in crude oil prices the sector is facing a problem.<\/p>\n
\u201cBecause of high diesel prices, we are facing an economic viable problem\u2026as early as, get rid of diesel, it is a hazardous fuel,\u201d he urged the construction equipment manufacturers.<\/p>\n
The minister pointed out that the government\u2019s policy is to encourage alternative fuels like methanol, ethanol and green hydrogen.<\/p>\n
Noting that electric mobility is the future, he said the market share of Indian automobile companies has increased and the share of foreign automobile companies has decreased because some Indian firms have started making electric vehicles.<\/p>\n
Pointing out that despite having sufficient coal reserves, India is importing coal, Gadkari said the government has decided to privatise 60 coal mines to increase productivity.<\/p>\n
Asked whether elevated crude price will be a threat to NHAI\u2019s capex funds as it may increase the chances of cess reduction on petrol this fiscal, Gadkari said, \u201cThe finance ministry will look into it\u201d.<\/p>\n
A large chunk of the budget outlay for NHAI is estimated to come from the central road and infrastructure fund (CRIF) into which petrol and diesel cess flows.<\/p>\n
\n
\n","protected":false},"excerpt":{"rendered":"
New Delhi, Jul 12 (PTI): Union Transport Minister Nitin Gadkari on Tuesday said the government will raise funds from capital markets for road projects. The minister further said despite fears of global recession, there is no problem in funding infrastructure sector projects. \u201cNow I am going to the capital market. I don\u2019t have financial resources […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-195295","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-national"},"_links":{"self":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/195295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/comments?post=195295"}],"version-history":[{"count":0,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/195295\/revisions"}],"wp:attachment":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/media?parent=195295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/categories?post=195295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/tags?post=195295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}