Innovative Finance With Low Interest Is Key To Infrastructure Building, Says Nitin Gadkari
To improve the investment in the infrastructure sector, Nitin Gadkari highlighted the need to focus on ‘Multiple Funding Model'.
Smaller investors can invest in the sector by purchasing bonds, Nitin Gadkari, Minister of Road Transport and Highways of India, said at the NDTV Infrashakti Awards on Tuesday.
He said that when these small investments come together, they generate a large sum for the infrastructure sector. Gadkari also said that they need to work on innovative finance plans with lower interest rates.
In terms of the deteriorating climate condition in India, Gadkari highlighted that cost-effective, pollution-free and indigenous transport systems like electric cars, buses and scooters are some of the solutions to resolve the air, water and noise pollution in India.
“265 ropeway cable cars and funicular railways are being developed in many states, including Kedarnath and Badrinath, to reduce pollution and travel time.”
He also emphasised reducing the cost of public transport along with transforming the transportation system with technology. “Innovation, entrepreneurship, science and technology, research skills—we name it as knowledge—and conversion of knowledge into wealth is the future.”
According to Gadkari, if vehicles in India start to run on hydrogen instead of coal and petroleum, then India will soon become a exporter of hydrogen. “Green hydrogen is the future.”
Gadkari also mentioned that tenders for the satellite-based toll systems will be launched soon, and GPS-based toll system will be implemented for 5,000 km of road network within three months.
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