BONDS TO BE RAISED TO FINANCE ROADS & HIGHWAYS PROJECTS: GADKARI AT PHD CHAMBER

Union Minister of Road Transport and Highways, Mr. Nitin Gadkari on Thursday declared, disclosing that the NHAI would shortly tap capital market to raise bonds as also generate resources through private placements and other such portfolios to fund roads and highways sector to completely transform the national economy for higher growth.

Inaugurating a 112th Annual Session of PHD Chamber of Commerce and Industry here today, Mr. Gadkari also announced emphasizing that prevailing interstate water disputes are in for resolve in next few months with consultative approach and 150 projects, relating to cleansing of Ganga would be awarded by March 2018.

In addition, the Minister also indicated further rationalization of taxes as also assured India Inc. that remaining inconveniences pertaining to GST and a few problems still persisting on account of demonetization would be addressed for good in next three months by the government of the day.

“Foreign and domestic investments for building roads and highways infrastructure would follow naturally because of the pro-active infrastructural policies of the government.  In the meanwhile, the NHAI is preparing to raise bonds worth lakhs of rupees by way of taping the capital market as also efforts are on to generate funds from other such portfolios.  This is being done to make sure that funds are raised to support and finance roads and highways without any delay”, said the Minister.

According to him, “policy decisions are being finalized to run bikes and even tractors including heavy vehicles on bio-ethanol generated from resources including rice and wheat stubble.  Also efforts are on to make landing arrangements of aeroplanes and smaller aircraft on water bodies that can also take off and land on surface”.

Elaborating on prevailing interstate water disputes, the Minister was categorically confident that such disputes would be sorted out even between Punjab and Haryana and other parts of the land as 70% of river waters of various rivers go waste and guzzled by the seas, added the Minister pointing out that on this front a consultative approach is paying off which dividend.

The Minister also invited PHD Chamber to join hands with the government and take part in all its innovative schemes to make sure that their benefits are percolated down to all stakeholders in an equitable manner.

In his welcome remarks, President, PHD Chamber, Mr. Gopal Jiwarajka emphasized that policies should be made that can enlist the industry’s participation with the government on equal footing and consultations between the two should be seamless so that hitches and glitches do not exist in policies that have long term ramifications.

Among others who were present on the occasion comprised Sr. Vice President and Vice President, PHD Chamber, Mr. Anil Khaitan and Mr. Rajeev Talwar including its Secretary General, Mr. Saurabh Sanyal.