New Delhi: National Monetisation Program will build reliability and confidence in developers and financing institutions as the identified projects are likely to be better prepared, exposure less likely to the risk given active project monitoring, management, and accountability, said the Union Minister for Road Transport and Highways Shri Nitin Gadkari.
Addressing a virtual dialogue on ‘Transforming India’s Mobility’ Gadkari said Roads have the largest share in the national monetization plan at 26 percent with the target of one lakh sixty thousand crore rupees over 4 yrs. The minister said Government is soon going to launch the National Master Plan of Prime Minister -‘Gati Shakti’, which will be more than 100 lakh crores rupees for holistic and integrated infrastructure development, which will create huge employment opportunities.
This year government has increased year-on-year infrastructure Capex by 34 % to Rs. 5.54 lakh crores, such increased investment in infrastructure would revive the economy and create employment in near future.
Shri Gadkari said Prime Minister Shri Narendra Modi has set a vision for India to become a 5 trillion dollar economy in the next five years and is expecting that the increased investment in infrastructure would not only create demand in the economy but also it would make growth – sustainable, equitable, and inclusive. Due to the multiplier effect, it’s proven that 1 rupee spent on infrastructure ends up as Rs. 2.5 in the economy, since the government has provided the utmost importance to the development of world-class infrastructure in the country.
The minister said that a comprehensive strategy has been adopted for the development of roads with 100% FDI being allowed in the road sector. NHAI is currently planning to monetize roads majorly through two modes one is toll operate transfer that is TOT other is INvIT. These initiatives will continue to progress the strategy with smaller bundles that meet the requirement of international and domestic players.
Moreover, agriculture is one of the major strengths and it needs to diversify in the energy and power sector, waste to wealth, and waste to energy by ethanol blending in India by 2025. Gadkari said the government is committed to delivering vehicles with flex engines that give the users an option to run a vehicle on either 100% petrol or 100% bio-ethanol.
Talking about road fatalities Shri Gadkari said his vision was to achieve a 50% reduction in road accident deaths by 2025 and Zero fatal accidents in the country by 2030 by taking various initiatives, policy reforms, and adopting the Safe Systems and shall curb this complex problem which will eventually benefit the automobile manufacturing industry. Ministry is restructuring and strengthening 4E’s of Road safety that is,
- Engineering (Both Road and Vehicle Engineering)
- Education and
- Emergency Care Services