Govt eyes Rs 25 lakh crore infra investments by 2019, to create 4 crore jobs: Nitin Gadkari
Govt eyes Rs 25 lakh crore infra investments by 2019, to create 4 crore jobs: Nitin Gadkari
Tue, 24 May 2016-06:39pm , New Delhi , PTI
4 crore direct and indirect jobs will give a boost in GDP by up to 3% by 2019.
Government expects investments worth Rs 25 lakh crore in the infrastructure sector by 2019 which will help generate 4 crore jobs, Union Minister Nitin Gadkari has said.
"First two years were spent in correcting the legacy we had inherited of stalled projects. We could manage to award projects worth Rs 2.5 lakh crore only as most of our efforts were directed towards addressing roadblocks.
The infrastructure space was one of the worst victims and things were at standstill. Yet, with our grit we bulldozed majority of the problems impeding growth.
"We expect investments worth Rs 25 lakh crore in the sector in the next three years. We rolled out the majority of the 403 stuck projects worth Rs 3.85 lakh crore. The developers who were shying away were brought back again and now the stage is set for an unprecedented work," Road Transport and Highways Minister Gadkari told PTI in an interview.
Gadkari further said the union Cabinet took as many as 21 major decisions pertaining to highways sector besides other policy initiatives.
The Minister further said that with the massive projects that are lined up, the country will witness at least 4 crore direct and indirect jobs and a boost in GDP by up to 3% by 2019.
In the next one year, the government will award projects worth at least Rs 5 lakh crore, he said adding that projects worth Rs 2.5 lakh crore only could be awarded in the last two years but now the target is to achieve building of 41 km of highways a day.
When the system gets streamline it is easier to work, he said adding the first two years were spent in solving problems but now things have become smooth.
"There is no dearth of money in pursuing the dream of a world-class infrastructure. What I say, I do. We are spending only Rs 12 lakh crore in Sagarmala project of which projects worth Rs 1,500 crore already have been rolled out," he said.
Gadkari said that Rs 50,000 crore investment has already been lined up for the port sector and a massive work is underway to develop the waterways as well.
Citing an example of how bad the situation was when he took charge in 2014, the Minister said at that time Larsen & Toubro CMD had come to him expressing inability to work in the highways sector.
"Sector had collapsed... Larsen & Toubro chairman came to me that seeking rejection of a tender in Maharashtra and said they were ready to pay penalty as their Board had decided to not to do any road project as the company had suffered loss of Rs 2,500 crore.
"... now the same L&T due to reforms in the sector is doing work worth Rs 15,000 crore in the highways sector. The situation has now changed," the Minister said.
