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Transport Ministry Saved Banks NPAs Worth Rs 3 Lakh Cr: Gadkari at Rising India Summit

Highlighting the pace of work carried on in the Indian transportation sector, Gadkari spoke about how there were "403 stalled projects," and that "banks should be thanking them."

News18.com

Updated:March 19, 2018, 8:47 AM IST
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New Delhi: If the government’s vision is anything to go by, Indians could soon invest in the Indian transportation sector which in turn will help build roads and highways.

Nitin Gadkari, Minister for Road Transport & Highways, while addressing the News18 Rising India Summit said, "I am thinking about providing the middle class an investment option. I will give them an interest rate of 7.75% to 8%. I want to use their investments to make roads and highways."

Gadkari said that the ministry has constructed 55 flyovers in Maharashtra.

Highlighting the pace of work carried on in the Indian transportation sector, Gadkari spoke about how there were "403 stalled projects," and that "banks should be thanking them."

"When I became minister there were 403 stalled projects, Rs 3 lakh crore worth of NPAs was saved by my ministry. The banks should be thanking us for saving them the problem of Rs 3 lakh crore," said Gadkari.

The minister also laid bare his target for next year and said the ministry will "construct roads at 40 km per day”.

Further, the minister reiterated that he delivers what he promises too: "I deliver what I promise."

Gadkari also hit back at Andhra CM N Chandrababu Naidu’s criticism that his state was handed a raw deal.

"We have given double the highways than what was there before Andhra was bifurcated," said Gadkari.

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| Edited by: Ashutosh Tripathi
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