Rs 15 lakh crore road construction target for next two years; Gadkari presses for early auto scrapping policy
May 07, 2020
New Delhi [India], May 7 : Union Minister for Road Transport and Highways Nitin Gadkari on Thursday said that he has set a target of constructing roads worth Rs 15 lakh crore in the next two years.
He made the remarks came in a meeting via video conferencing with members of SIAM Institute on the impact of COVID-19 on automobile sector.
It was attended by MoS Road Transport and Highways Gen (retd) V K Singh, Secretary in the ministry Giridhar Aramane and senior officials.
Gadkari said that his ministry is "working overtime to clear all arbitration cases with concessionaires", according to an official release.
The Minister informed that he has directed the ministry officials to finalise the auto scrapping policy quickly and said "it will go a long way in cost reduction".
He also suggested exploring cheaper source of credit including foreign capital for enhancing liquidity in the automobile manufacturing sector.
Gadkari called for focus on enhancing liquidity in business and noted that ups and downs are common.
"One needs to plan for bad times while working for growth. The industry should focus more on innovation, technology and research skill to become competitive in the global market," he said.
During the interaction, members expressed concerns regarding various challenges being faced by an industry amid COVID-19 pandemic. They gave suggestions and requested support from the government to keep the sector afloat.
Gadkari assured all possible help from the government and said he would take up the issues at the appropriate level in the government and other departments.
