New Delhi : Reiterating that security is the first condition for development, Union Home Minister Rajnath Singh said the country cannot develop until it is secure.
Speaking after inaugurating the 110th annual session of PHD Chamber of Commerce on Saturday, the Home Minister said that India is among top 10 economies of the world and it can reach the fifth place by 2020-2025. He said that India’s growth rate – currently pegged at 7.5 per cent – will touch double digits in near future. The theme of the annual session is “Transforming India – Together We can & We Will.’’
Singh pointed out that the ‘spiritual development’ along with ‘economic development’ was also essential.
He said that materialism can give momentary happiness, but the mental peace can only be gained through spiritual development. He said that, in addition to becoming a ‘super economic power’, India should also attract the world towards its values.
The Home Minister said the biggest challenge today is to step up the speed of economic engine. India has no dearth of natural resources and human resources, he added.
“Indian economy has gone through many adverse circumstances in the path of growth, since independence, but it could survive the effects the global recession and then the world recognized that Indian economy has growth potential,” Singh said.
Speaking at the PHDCCI session, Union Shipping, Road Transport and Highways Minister Nitin Gadkari said that inland waterways can not only boost the movement of goods and passengers across the country, but will also help in saving about Rs 10,000 crore annually in transporting coal.
Gadkari expressed the hope that Parliament, in the current winter session, would approve the bill to convert 111 rivers across India into National Waterways. “Inland waterways will help in saving logistics costs and boost movement of goods and passengers across the country,’’ he added.
The waterways is a cheaper and environment friendly medium for transporting of goods, he said. Citing example, he said that one HP moves 150 kg on road, 500 kg on rail and 4,000 kg on water besides one litre of fuel moves 24 tonne/km on road, 85 tonne/km on rail and 105 tonne/km on water.
Turning to the port sector, the Minister said that he expected the ports to register a profit of Rs 6,000 crore this fiscal.
Gadkari said that infrastructure sector in India would witness massive changes and transformation in the next few years as the government is converting many four-lane roads and highways into eight lanes as well as a large number of national highways will be turned into express ways.
