Gadkari: India needs $1 trn for roads, ports, airports

Gadkari: India needs $1 trn for roads, ports, airports

FPJ BureauUpdated: Friday, May 31, 2019, 06:33 PM IST
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Sets a deadline of February 15 to resolve issues stalling highway projects worth Rs 30,000 crore, including fund crunch

New Delhi : Terming infrastructure building as a “major challenge”, Union Minister Nitin Gadkari has said the country requires $1 trillion for the development of new roads, ports and airports over the next few years.

Upgrading infrastructure is a major challenge for policy makers of the Asia’s third largest economy and India needs about $1 trillion (about Rs 67,00,000 crore) for new roads, ports and airports over the next few years, Gadkari said at the inaugural edition of Rajya Sabha Television’s new flagship programme ‘Spotlight’.

He said the NDA government is set to transform India’s infrastructure and added there is no dearth of funds for this priority area. “Money is not a problem, mentality is. Unfortunately we have a demoralised bureaucracy,” Gadkari said.

Gadkari also said the government has set a deadline of February 15 to resolve the issues stalling highway projects worth Rs 30,000 crore, including fund crunch.

The remark assumes significance as 14 projects worth Rs 30,000 crore are still stuck despite a marathon meeting of bankers and developers last week.

The projects are stuck due to various issues such as land acquisition, forest and environment clearances, railway over-bridge problems, utility shifting, litigations, delayed decisions and financial problems.

Confident of removing bureaucratic hurdles in the way of road projects, the minister said companies in the sector are victims of the government’s indecisiveness and the need for multiple approvals.

He said the government had several rounds of discussions with bankers and contractors to clarify issues relating to land acquisition and project approval.

“In the next five years we are going to change the infrastructure of this country. I know my work, I am doing it,” he added.

Building of infrastructure will add 2 % to India’s GDP growth, said the minister. Gadkari said his ministry is working on a target of 30 km of new roads per day by March 31 besides working towards achieving an ambitious target of 100 km a day.

Gadkari, who is also the minister for waterways, expressed disappointment over the treatment accorded to Inland waterways.        “My priority is waterways. We have a Rs 45,000 crore budget for roads, but only have Rs 1,000 cr for waterways,” he said adding his government will focus on developing the sector.

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