More liquidity is needed to boost economic activity following the coronavirus pandemic and states should come forward with Rs 20 lakh crore, while another Rs 10 lakh crore can be harnessed from public-private investment to fight the Covid-19 disruptions, Union Minister Nitin Gadkari said on Wednesday.
Gadkari said the economy is facing serious problems, businesses are being closed and unemployment is growing. All sections of the society, whether migrants, media, business persons or employees, are facing problems, but ultimately "we will win the economic war" and the "corona war", he said.
"More liquidity needs to be pumped in the market to boost the coronavirus-hit economy and states should come forward with Rs 20 lakh crore, while another Rs 10 lakh crore can be harnessed from public-private investment," Road Transport, Highways and MSME Minister Gadkari told PTI.
He further noted that "these funds together with the Rs 20 lakh crore package already announced by Prime Minister Narendra Modi would result in Rs 50 lakh crore liquidity in the market to battle the adverse impact of the novel coronavirus pandemic on the economy".
He further noted that work on national highways has been started on war-footing and the government plans to build highways worth Rs 15 lakh crore in the next two years. He said work has been resumed on almost 80% of the projects.
Source: PTI