Government will use capital market for road projects: Nitin Gadkari – Times of India

New Delhi: Union Transport Minister Nitin Gadkari Said on Tuesday that the government will raise funds capital market for road projects.
The minister further said that despite the apprehensions global recessionThere is no problem in funding infrastructure sector projects.
“Now I am going to capital market. I don’t have problem with financial resources.
“But, I don’t want to use the finances of rich people. I’m going to share the market, and there I’m going to take investments from small people – Rs 1 lakh, Rs 2 lakh, where I am giving them 8 percent Guaranteed return,” Gadkari said while addressing an event here.
Thus, I will get tremendous money from the market, he said.
The minister said the size of the construction equipment industry is Rs 50,000 crore, but the sector is facing a problem due to rise in crude oil prices.
“Due to high diesel prices, we are facing an economically viable problem… Get rid of diesel, as soon as possible, it is a dangerous fuel,” he urged construction equipment manufacturers.
The minister said that the policy of the government is to encourage alternative fuels like methanol, ethanol and green hydrogen.
Observing that electric mobility is the future, he said the market share of Indian automobile companies has increased and that of foreign automobile companies has declined as some Indian firms have started making electric vehicles.
Pointing out that despite having substantial coal reserves, India is importing coal, Gadkari said the government has decided to privatize 60 coal mines to increase productivity.
Asked whether the increased crude oil price would be a threat to NHAI’s capital expenditure fund as it may increase the chances of reduction in cess on petrol in the current financial year, Gadkari said, “The finance ministry will look into it.” ”
A major part of NHAI’s budget outlay is estimated to come from the Central Road and Infrastructure Fund (CRIF), with petrol and diesel cess flowing through it.