National Monetisation Plan And 'Gati Shakti' To Speed Up Infrastructure Development And Generate Job Opportunities
Key government projects aim to achieve employment generation and sustainable growth.
The National Monetisation Programme will ensure active monitoring and management of projects, which will build trust and confidence in developers and financing institutions, said Union Minister for Road Transport and Highways Nitin Gadkari.
The projects will be better prepared to tackle risks, he said while addressing a virtual dialogue on ‘Transforming India’s Mobility’.
Gadkari said roads have the largest share in the national monetisation plan at 26 per cent, and with a target of Rs 160,000 crore over four years.
The minister said the government will launch the National Master Plan of the Prime Minister — ‘Gati Shakti’. The Rs 100 lakh crore scheme will aim at achieving holistic and integrated infrastructure development, and will create huge employment opportunities.
Gadkari said, this year, the government has increased year-on-year infrastructure Capex by 34 per cent to Rs 5.54 lakh crore, increasing infrastructure investment, helping in the revival of the economy and creating employment.
The minister said in line with Prime Minister Narendra Modi’s vision of a $5 trillion economy in the next five years, increased investment in infrastructure would not only create demand but also achieve sustainable, equitable and inclusive growth.
He said it is proven that due to the multiplier effect, one rupee spent on infrastructure ends up as Rs 2.5 in the economy.
Gadkari said that a comprehensive strategy has been adopted for the development of roads with 100 per cent foreign direct investment (FDI) being allowed in the road sector. He said National Highways Authority of India (NHAI) is planning to monetise roads majorly through two modes. One is toll operate transfer (TOT), other is infrastructure investment trust. He said since there have been good outcomes for NHAI from TOT, it will continue to progress the strategy with smaller bundles that meet the requirements of international and domestic players.
Gadkari said agriculture is our real strength and the government intends to diversify in the energy and power sector.
He said the government has released the report of an expert committee on the roadmap for ethanol blending in India by 2025 which discusses the gradual rollout of 20 per cent ethanol blending in petrol by 2025. He said we are committed to delivering vehicles with flex engines that give the users an option to run a vehicle on either 100 per cent petrol or 100 per cent bio-ethanol.
Talking about road fatalities, Gadkari said his vision was to achieve 50 per cent 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.
He said to curb this complex problem, the ministry is restructuring and strengthening four ‘Es’ of road safety — engineering (both road and vehicle engineering), enforcement, education and emergency care services.
Regarding the vehicle scrapping policy, the minister said there is good response and plan is to set up at least one scrapping centre in one district, and in some bigger districts, at least four or five centres. He said it is a win-win situation for all the stakeholders and will immensely benefit the automobile manufacturing industry.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.