100% FDI! Govt to construct road worth Rs 15 lakh crore in 2 years, says Gadkari; targets 7,300 projects with Rs 111 lakh crore by 2025
One of the biggest achievements of Narendra Modi government has been expansion of roads, including national and state highways. The government informed that it plans to spend whooping Rs 15 lakh crore on road construction in 2 years.
One of the biggest achievements of Narendra Modi government has been expansion of roads, including national and state highways. The government informed that it plans to spend whooping Rs 15 lakh crore on road construction in 2 years. It also exuded confidence that the government will achieve target of 40 kilometres per day of highways construction in current fiscal. This was informed by Minister for Road Transport & Highways and Micro, Small and Medium Enterprises Nitin Gadkari while addressing the Indo–U.S. Partnership Vision Summit through video conferencing on Friday.
See Zee Business Live TV Streaming Below:
Gadkari said that the Government is giving utmost priority to the development of infrastructure and has set a target of road construction of worth Rs.15 lakh crores in next two years. "The Ministry for Road Transport & Highways will achieve target of 40 kilometres per day of highways construction in current fiscal. The Government is permitting 100% FDI in road sector," said Gadkari in a statement on Saturday, May 1.
Projects like National Infrastructure pipeline for 2019-2025 is the first of its kind in Indian and the government is committed to provide world class infra to its citizens and improving quality of their lives.
"Under the NIP, there are over 7,300 projects to be implemented at a total outlay of Rs. 111 lakh crore by 2025. He said that the NIP aims at improving project preparation, and attract investment into infrastructure like highways, railways, ports, airports, mobility, energy and agriculture and rural industry," said Gadkari.
During the event, Gadkari also focused on bilateral relationship between India and the. "In the new era of bilateral relations, the national interests of India and the United States are converging and there is growing confidence between both the administrations that all outstanding trade issues will be resolved and major trade agreements will be signed soon," said the minister while inviting the US companies to invest in infrastructure and MSME sectors in India.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.